Crypto breakout drives massive short-covering, looks important technically

Key Takeaways

• Many Cryptocurrencies look to have made significant technical breakouts starting early Friday morning with BTCUSD, SOLUSD, ETHUSD, LTCUSD, and XRPUSD all jumping 8% +
  
• Technically this looks to be a positive given prices having eclipsed weekly highs as well as one-month downtrends. This gives rise to the possibility that BTCUSD might be kicking off its traditionally bullish 4Q seasonal rally
  
• Momentum remains positive on weekly charts and has turned quickly back to positive territory also on daily charts as a result of Friday’s surge