FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Double Bottom pattern has been formed on #Bitcoin M5; the upper boundary is 62883.62; the lower boundary is 62702.00. The width of the pattern is 20430 points. In case of a break of the upper boundary 62883.62, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

According to the chart of M5, #Bitcoin formed the Head and Shoulders pattern. The Head’s top is set at 63365.00 while the median line of the Neck is found at 62800.84/62822.33. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of #Bitcoin will go towards 62822.18.

According to the chart of M30, EURJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 163.99 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -89 pips.

The Double Top pattern has been formed on GOLD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 2295.56 is broken, the downward movement will continue.

The Triple Top pattern has formed on the chart of the NZDCAD M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.8215/0.8220 with the upper limit 0.8236/0.8231; the projection of the width is 21 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.8215, the price is most likely to continue the downward movement.