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

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 74228.51; the lower boundary 73888.82; the width of the pattern 33969 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 73888.67 level.

The Bearish pennant pattern has formed on the #Bitcoin M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 73341.53; the projection of the flagpole height is equal to 36144 pips. In case the price breaks out the pattern’s bottom of 73341.53, the downtrend is expected to continue for further level 73341.38.

On the chart of #Bitcoin M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 73903.79; the lower boundary 73373.23; the width of the pattern 53056 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 73372.93 level.

According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 73187.10/73590.26 and upper border is 74108.40/73590.26. The pattern width is measured on the chart at -92130 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 73590.11.

According to the chart of M30, #Bitcoin formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 72591.64 – 72591.64 and upper border 73750.01 – 73750.01. In case the lower border is broken, the instrument is likely to follow the downward trend.