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

According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 73882.65 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -57510 pips.

The Double Bottom pattern has been formed on #Bitcoin M5. Characteristics: the support level 70672.51; the resistance level 71103.00; the width of the pattern 43049 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 41789 points.

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 71272.45; the lower boundary 70986.63; the width of the pattern 28582 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 70986.48 level.

The Double Bottom pattern has been formed on #Bitcoin M5; the upper boundary is 71570.68; the lower boundary is 71379.18. The width of the pattern is 18200 points. In case of a break of the upper boundary 71570.68, 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.

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 73829.18; the lower boundary 73505.68; the width of the pattern 32350 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 73505.53 level.