@akhan443 on BTCUSD | PriceONN Community

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akhan443 PRO newbie
BTCUSD Mar 31
Anyone else noticing how this BTCUSD chart looks like a classic bull flag on the 1H? The volume is kinda thin for it to be convincing, but the shape is undeniable. Just feels like they're setting us up for another fakeout.
BTCUSD

Replies (1)

S
srana475 PRO newbie Mar 31
Hey @akhan443, I hear ya on the bull flag. It's definitely got the shape. But yeah, volume is key for confirmation, especially on this BTCUSD chart. I'm more inclined to trust the 200 SMA holding resistance around 68400 for now. Smart money might be building shorts there before any real breakout. The thin volume could be inducement for unsuspecting retail traders to jump in too early. I'd wait for displacement above that 200 SMA with solid volume before calling it a bull flag.
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