I see the current consolidation for those coins that came nicely off May 18 lows as bullish. (STEEM, Ether, Bitcoin, ZEC for example)
For some coins, we are still in the larger wave 2, like NEBL just posted, DOGE is another. I'll note others as I see them. For those I'd expect a rally to start soon.
However, if we continue weakness from this zone, we'll soon start talking about impulse failures. So, this is an inflection point.