For me this work is good and makes big impression. I like especially those flames or just lights glowing from crystals. Sparkles in them makes those "lighty parts" of the picture just perfect. It all looks like a fire and I think it had to look like that, right?
I love also how you drew fur of that... umm... cat...? Wolf...? Whatever - a fine creature. It looks like feathers on those white parts, his paws could be wings, if you only would make them a bit more... wingy. It's really very good idea.

But I can see here also some mistakes. Yes, I've read about the position, that you know he looks like he's legless. But generally you shouldn't cut him. It's a wrong composition - so that's why I gave only 4.5 stars for technique. Because it's very important for pictures - the composition.
And his low jaw is much too long. It wouldn't close and I think you didn't mean to make it too long, did you?

And another case... This is not a mistake or something, but in my opinion you should make those rocks of foreground darker than now. It would make better effect of those flames. Maybe dark brown or something...?
But I like the picture. Impressed me.

Even if it wasn't done entirely on one layer, in my opinion this is still a very well composed piece insofar as how the elements and lighting are broughht together. I love the lighting, is very stylistic while maintaining realisim.

As far as the individual elements go, I can't pick out anything needing improvement on the character, but the upper dark area of the background is the only part that bothers me. I have a fairly bright monitor, but still at first glance it's hard to distinguish what is behind the character, as far as depth and how close or far away it's supposed to be. The bottom half, however, is very well done and has a satisfying texture.

I also have to add that the watermark somehow blends in pretty well, nicely done!