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CoFo Lab Market Watch: Unpivoting the Pivot

Analysis and Forecasts
2023-11-08 15:47:27
227

Unsuccessful reversal attempt. Prices returned to uptrends. Some local high updates.

CoFo Scout

BTC

Dominant Direction: Short

Dominance Strength: 9% of 100%

Timeframe Dominance: 72% of 100%

ETH

Dominant Direction: Short

Dominance Strength: 13% of 100%

Timeframe Dominance: 71% of 100%

HFT

Dominant Direction: Long

Dominance Strength: 22% of 100%

Timeframe Dominance: 87% of 100%

LINK

Dominant Direction: Short

Dominance Strength: 24% of 100%

Timeframe Dominance: 92% of 100%

Local long dominance but insignificant indicators. Medium-term shorts persist as bulls prevent cooldowns. Shorts now on D1 global timeframe. Other globals still long.

Shorts dominate markets but declining strength.

On BTC, decreasing short dominance. Scattered indicators - local longs, medium-term shorts. Reluctant upwards accumulation.

Globally uptrending altcoins. Medium-term short dominance. Fragmented locally. Some global timeframe shorts but mid-term weakening. Individual overheating via increased strength and sync but below thresholds.

In summary:

Instruments returned to uptrends - some accumulating, some with new local highs.

Longs need correction downturns and increased local dominance. No short confirmation yet.

 

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