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

According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 59854.81/60113.62 and upper border is 60403.27/60113.62. The pattern width is measured on the chart at -54846 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 60113.47.

On the chart of the #Bitcoin M30 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 59558.18, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 102527 points.

The Double Bottom pattern has been formed on EURNZD D1. Characteristics: the support level 1.9496; the resistance level 1.9851; the width of the pattern 355 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 342 points.

The Double Top pattern has been formed on #Bitcoin M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 60159.53 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on GOLD M5. Characteristics: the support level 4064.06; the resistance level 4074.18; the width of the pattern 1012 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 1001 points.