Trade people alts are extremely aware of the dominance and total market capitalization.
The dominance is increasing momentum and the 40% milestone is important so ae should pay attention to reduce the number of alts when the dominance increases by 40%.
Besides, the total market capitalization of 2 times did not surpass $ 470 billion, confirming that this zone is the resistance.
Situation if we go to the next support area at $ 320 - $ 350 billion.
As I mentioned earlier on the downtrend, I predicted a $ 8700 rebound to $ 9100 but the bull div was broken because of two new entrants, Mt.Gox and UpBit.
If we close $ 8800 candle tomorrow, we will keep the uptrend and temporary sideways there.
If we close below $ 8800 then we will sideways at $ 8400 - $ 8600 to fill the LVN and continue to down to the weekly support at $ 8200.
I anticipate BTC will down but down like this is too fast, so the trading flood is going on, will update tomorrow morning for everyone to have trade alts.
Funny pictures
The situation of closing the candle like this, do not need to say more.
However, now it is not time to sell anything else because selling here is selling bottom.
In the night we reach $ 8300 and are forming another bear flag model, the ability to sideways and have a leg lift here before going up, the lowest candlestick price may reach below $ 8000.
The explanation for this sell-off, I would like to explain is that investors are concerned about their funds on UpBit, just that people sell to withdraw money from this floor and certainly will. Using this money continue to reinvest on another floor (Korea is an extremely crazy state because the crypto) so expect a huge rebound when the sell off this end.
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