We easily could have seen a pullback in the big three crypto names after the recent move higher. However, we are getting more a consolidation as of the time of this writing. Shall it continue?

Positive Consolidation

Anytime a coin makes a move higher and then digests that move by moving sideways for a few days - it's generally viewed as positive price action.

Buyers have pushed the coin up and then as opposed to running out of gas, enough demand still exists to eat up what the sellers have to offer until the buyers reload to leg up the price again.

Maybe this will happen, maybe it won't - all I can do is point out price points on the upside and downside while we consolidate. But like I said, sideways consolidation after an up move is constructive price action.

In the video below I go into more detail and point out the obvious place prices landed before taking a breather.

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Best Regards,

Disclaimer: All info in this post is my opinion and for educational use.