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CoFo Lab Market Watch: Range Racing

Analysis and Forecasts
2023-10-31 19:33:41
201

Local and medium-term overbought realization began. Longs still dominate globally.

CoFo Scout

BTC

Dominant Direction: Short

Dominance Strength: 13% of 100%

Timeframe Dominance: 73% of 100%

ETH

Dominant Direction: Short

Dominance Strength: 11% of 100%

Timeframe Dominance: 70% of 100%

TRX

Dominant Direction: Short

Dominance Strength: 32% of 100%

Timeframe Dominance: 100% of 100%

LUNC

Dominant Direction: Short

Dominance Rate: 11% of 100%

Timeframe Dominance: 70% of 100%

Short dominance played out on local and medium-term timeframes. Declining strength and signal discrepancy on lower timeframes. Unchanged global long dominance and strength.

Short direction dominates weakly. Declining dominance strength. Weak sync.

Decreasing BTC bearish pressure. Falling strength and local longs desync timeframes.

Shorting pressure on altcoins remains. No global changes, long domination persists.

In summary: Medium-term overbought realization underway. Market remains globally long, possibly indicating no basis for full reversal yet. Confident shorts require at least neutral global signals. Confident longs need long lower and medium-term signals.

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