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

The Bearish pennant pattern has formed on the #Bitcoin M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 62704.11, a trader will be able to successfully enter the sell position.

The Triple Bottom pattern has formed on the chart of the EURNZD D1 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.9851/1.9803.

According to the chart of D1, #Bitcoin formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 67292.72 - 0.00 and support 57808.25 – 57808.25. In case the resistance level 57808.25 - 57808.25 is broken, the instrument is likely to follow the bearish trend.

The Double Top reversal pattern has been formed on #Bitcoin M15. Characteristics: the upper boundary 63128.46; the lower boundary 62976.49; the width of the pattern is 15889 points. Sell trades are better to be opened below the lower boundary 62976.49 with a possible movements towards the 62976.27 level.

The Double Bottom pattern has been formed on #Bitcoin M30. Characteristics: the support level 62824.47; the resistance level 63051.86; the width of the pattern 22739 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 20855 points.