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

According to the chart of M30, #Bitcoin formed the Head and Shoulders pattern. The Head’s top is set at 106466.59 while the median line of the Neck is found at 105061.92/105266.00. 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 105265.70.

The Double Bottom pattern has been formed on #Bitcoin M15. Characteristics: the support level 105266.00; the resistance level 105685.24; the width of the pattern 41924 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 41901 points.

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 105451.09 is broken. The further movements will rely on the width of the current pattern 16703 points.

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 105930.30 is broken. The further movements will rely on the width of the current pattern 40410 points.

The Double Bottom pattern has been formed on #Bitcoin M5. Characteristics: the support level 105551.21; the resistance level 105745.22; the width of the pattern 19401 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 21902 points.