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

The Double Bottom pattern has been formed on #Bitcoin M15. 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 94291.97 is broken. The further movements will rely on the width of the current pattern 70503 points.

According to the chart of M5, #Bitcoin formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 94251.10, the lower border is 94078.08. The signal means that a short position should be opened after fixing a price below the lower border 94078.08 of the Bearish Rectangle.

The Triple Bottom pattern has formed on the chart of #Bitcoin M5. Features of the pattern: The lower line of the pattern has coordinates 94416.04 with the upper limit 94416.04/94251.10, the projection of the width is 29819 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 94117.85, the price is most likely to continue the upward movement.

On the chart of the #Bitcoin M5 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 94181.05, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 13228 points.

The Double Top reversal pattern has been formed on #Bitcoin M5. Characteristics: the upper boundary 94348.84; the lower boundary 94140.31; the width of the pattern is 21661 points. Sell trades are better to be opened below the lower boundary 94140.31 with a possible movements towards the 94140.16 level.