CoFo Lab Market Overview: Can Bulls Maintain Trend?
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.
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