One of the amazing facts about cryptos is that you can trade them on the weekends. This is a simple triangle that will break before monday. I am rather bullish but this is just an idea that will hopefully make you understand the price and momentum in the market.
It was already noticed this weekend behaviour, it happens that nearing the sunday evening the amateur traders start to sell, specially altcoins, btc has acquired a more persistent holding character, but as it falls slightly and reaches the buying price of the begining of the weekend it starts to activate the stop loss orders and triggers a domino effect, causing a sudden drop. I see a repressed bullish pressure, but the curve had just reached a vertical climbing, everybody noticed that and it is not likely that will only go upwards without any major correction. Maybe it will start forming a short descending peak and another longer and smoother ascending parabolic curve to accomodate the growth in the scale of tens of thousands. The chart forms a repeating fractal pattern from the smaller to greater scale. There can be observed various correction magnitudes embedded within itself, daily, weekly, monthly, and yearly. And maybe even in a greater scale.
AlaaElmahdy
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Have a look on the Daily chart before you scalp this , IT's Scary as Hell . RSI on the 100 is not a good thing to scalp.
ApexLemur
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@AlaaElmahdy, RSI is at around 60 on the daily , I do agree however that this is structurally risky and some fund managers have warned me regarding CME hence I am rather bullish not just bullish, a lot of times I am either only bullish or bearish.