Friday’s Crypto-Market Breakout Caused Massive Short Covering, May Be Technically Significant: FSInsight — CoinDesk

Friday’s Crypto-Market Breakout Caused Massive Short Covering, May Be Technically Significant: FSInsight — CoinDesk

It is possible that bitcoin is starting off its “traditionally bullish 4Q seasonal rally,” FSInsight said. The firm’s first upside target is $52,956 – the September high – followed by $64,895. Momentum may be overbought on an hourly basis but “dips are likely buyable” daily momentum is not overbought, FSInsight said.

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