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

The Double Top reversal pattern has been formed on #Bitcoin M5. Characteristics: the upper boundary 63787.83; the lower boundary 63552.32; the width of the pattern is 24470 points. Sell trades are better to be opened below the lower boundary 63552.32 with a possible movements towards the 63552.17 level.

According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 63322.40 is likely to encourage a continuation of the downward trend.

According to the chart of M5, #Bitcoin formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 63661.39 and support 63475.10. In case the resistance level 63661.39 - 63661.39 is broken, the instrument is likely to follow the bullish trend.

According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 62706.48/63128.43 and upper border is 63728.44/63128.43. The pattern width is measured on the chart at -102196 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and #Bitcoin breaches the lower border, the price could continue its move toward 63128.28.

The Double Bottom pattern has been formed on #Bitcoin M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 63542.20 is broken. The further movements will rely on the width of the current pattern 63351 points.