Cryptoland In Consolidation After The Sharp Move Higher

Alexandros Yfantis • May 2, 2018 at 7:54 AM EDT

Many bullish flag patterns are seen in Cryptoland after important trend line breakouts. Usually such patterns break to the upside since their last trend was bullish.

All 4 major cryptocurrencies that we started monitoring back in December are now consolidating near their recent highs. Many bullish flag patterns are seen after important trend line breakouts. Usually, such patterns break to the upside since their last trend was bullish. The consolidation helps us define some price levels that will define if we have a breakout (continuation of the previous trend) or a breakdown.

BTC/USD

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LTC/USD

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XRP/USD

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ETH/USD

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So, traders, you should be careful, something big is coming in cryptoland and most probably to the upside. Stay with your trading strategy and exit plan in case things do not go your way.

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