The important things to look out for today are:
1. Is someone withdrawing funds from the coin market?
2. Why is the price of altcoins soaring when the price of BTC rises?
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1. Is someone withdrawing funds from the coin market?
If you look at the USDT 1D chart, you can see that the gap is falling.
There is also a rise in the gap.
Gap declines that have never been so common are occurring frequently.
This means that someone is withdrawing funds from the coin market.
Accordingly, in order for this coin market to continue to rise, we need to see if the trading volume increases.
Volume plays an important role in maintaining price, so it is imperative to check the volume increase or decrease.
2. Why is the price of altcoins soaring when the price of BTC rises?
BTC price is currently in a downtrend.
BTC price has risen in a position that has not yet turned into an uptrend.
In this flow, for BTC to lead an upward trend, funds must be concentrated towards BTC.
However, as the price of altcoins rose, the funds were dispersed.
Therefore, the BTC dominance has rather declined.
This trend was prior to the downtrend, and I think it is likely to lead to a bigger decline going forward.
Therefore, as mentioned in step 1, you need to check the increase or decrease of the trading volume.
If the BTC price rises or goes sideways without an increase in trading volume, it is highly likely to lead to a major decline.