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[QUOTE="forum forex, post: 200041, member: 78402"] Friday’s Crypto-Market Breakout Caused Massive Short Covering, May Be Technically Significant: FSInsight Notable technical breakouts made by some cryptocurrencies on Friday led to “massive short covering and futures short liquidations at the highest level in over a month,” according to a report by FSInsight, a markets strategy and research firm. Bitcoin, solana, ether, litecoin and XRP all advanced more than 8% in the early hours of Oct. 1, gains that looked to be technically positive as prices rose above the weekly highs in addition to one-month downtrends, FSInsight said. Short covering occurs when investors who are positioned short – that is they’ve sold assets betting on further declines – are forced to cover their bearish bets by buying in the market as prices rise, leading to further gains. [/QUOTE]
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