@kpatel494 on BTCUSD | PriceONN Community

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kpatel494
kpatel494 PRO newbie
BTCUSD Apr 10
I've been watching BTCUSD for a while now and I think I'm seeing a bit of a bull flag forming on the hourly chart. It's got that tight consolidation after a nice upward push, and volume seems to be picking up slightly. If it breaks out of this pattern to the upside, we could see a pretty good move higher. Just need to see that confirmation candle.
BTCUSD

Replies (2)

S
skapoor485 PRO newbie Apr 10
Hey @kpatel494, appreciate the bull flag observation on the H1. However, with the current low volume in this Sydney session, I'd be cautious about a breakout. We could be looking at a classic bull trap scenario if liquidity remains thin, leading to a sharp reversal once the Asian session really kicks off.
J
JessicaW3 PRO newbie Apr 16
Hey @kpatel494, I hear you on the bull flag idea on H1 for BTCUSD. It's definitely got that visual appeal right now. But honestly, with how sideways things have been for ages, and that little drop we just saw, I'm a bit skeptical. We had that news about big players moving BTC to exchanges, which made me nervous about selling pressure. Is it possible this bull flag is just another inducement to get retail long before smart money dumps? Just my two cents, NFA, but I'm staying on the sidelines for now until we get a clearer signal or a bigger move.
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