The recent bullish breakout triggered a new growth wave. Is a correction coming?

What clues does the Collective Forecast toolkit provide?

Scoutlist

Let's take a look at the latest data from our Scoutlist survey tool:

Key Metrics

BTC

Dominant Direction: Short

Dominance Coefficient: 9% of 100%

Timeframe Dominance: 65% of 100%

ETH

Dominant Direction: Short

Dominance Coefficient: 8% of 100%

Timeframe Dominance: 61% of 100%

MATIC

Dominant Direction: Short

Dominance Coefficient: 7% of 100%

Timeframe Dominance: 59% of 100%

DOT

Dominant Direction: Short

Dominance Coefficient: 6% of 100%

Timeframe Dominance: 58% of 100%

Market dominance shortened. Long positioning now carries increased risk for bulls. Continued gains remain possible as bearish interest is early stage. Shorts emerged only near-term and medium-term; higher timeframes remain long.

No assets exceeded minimum thresholds of interest, except TRX drawing unusual buyer interest. It warrants observation for crossing the 50% second threshold.

Indicators

Now examining the Collective Forecast indicators across timeframes:

BTC

The expected continuation of the global growth wave occurred. BTC showed strong movement, bursting through barriers. No visible topside slowdown on the daily or weekly.

Medium-term uptrends develop amid overbought. No correction signals yet.

Locally substantial overbought persists alongside buying pressure.

ALTS

Globally buyers took initiative after prolonged accumulation as assets break into uptrends.

Medium-term alts entered overbought.

Locally overbought with short signals and divergences emerged. Buyers more active than BTC but corrections more drawn out.

In summary, as of October 2 UTC morning, indicators corrected with shorts taking over dominance, though minimal still. Local and medium-term overbought scenarios.