The expected correction materialized rapidly as sellers took control seamlessly. Where are markets headed now?

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: 12% of 100%

Timeframe Dominance: 66% of 100%

ETH

Dominant Direction: Short

Dominance Coefficient: 19% of 100%

Timeframe Dominance: 76% of 100%

MATIC

Dominant Direction: Long

Dominance Coefficient: 4% of 100%

Timeframe Dominance: 56% of 100%

DOT

Dominant Direction: Long

Dominance Coefficient: 5% of 100%

Timeframe Dominance: 56% of 100%

The corrective wave brought local oversold conditions. Local indicators tilt long, medium-term lean short, and retreating global long signals. Divergence returned amid potential ranging and choppy action, multidirectional moves remain possible.

BCH neared the first 31% short dominance threshold. Shorts lead most timeframes but lack synchronization.

Indicators

Now examining the Collective Forecast indicators across timeframes:

BTC

The daily entered the sell zone with corresponding pressure. No major signals, but some shorts are brewing.

Medium-term signals point to an approaching retest.

Locally, prices downtrend sans reversals.

ALTS

Assets barely entered bull trends before starting tests, sticking at demarcation. Few significant signals, but inertia favors bulls.

Medium-term overbought accumulated with sellers returning prices to retest levels.

Locally downtrending. Some signals indicate growth wave continuation, so a bullish trend reentry is possible.

In summary, as of October 3 UTC morning, ambiguity emerges with local longs, medium-term shorts, and fading global longs. A strong correction occurred, but bulls may try retaking control.