ALGO did well and time to take profit as well as seeing many ALTs losing ground to BTC as BTC dominance is likely to go up a little time from here. This indicates BTC is likely to break out more.
@cash_gold, nothing good. Looks like BTC.D is reversing, if Bitcoin pumps then alts will correct first before going up again, if it dumps then everything dumps to the ground. Alt can go against the market only if FOMO is happening in it at the moment, and I don't see it here. I'll sell if it drops lower to scoop up near 3k.
Mikanoshi
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What if it's still in a bull flag? Hidden bullish divergence was also there before this drop. Maybe last leg up while BTC tries to recover?
ssari
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@Mikanoshi, its possible but its more likely to be a re-accumulation wyckoff structure of some sort where the bottom will be established. Macro sideways movement.
The 4 hrly candlestick will on this chart let us know in 2 hrs. Note how the RSI dropped below 50%, we just need to see how the candle closes.