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

The Triple Bottom pattern has formed on the chart of #Bitcoin M5. Features of the pattern: The lower line of the pattern has coordinates 70920.11 with the upper limit 70920.11/70833.02, the projection of the width is 51986 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 70400.25, the price is most likely to continue the upward movement.

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 70920.11 is broken. The further movements will rely on the width of the current pattern 51986 points.

According to the chart of M15, #Bitcoin formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 72984.93 and 71787.51 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 119742 pips. Outlook: If the upper border 72984.93 is broken, the price is likely to continue its move by 72331.49.

According to the chart of M15, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 71452.02 is likely to encourage a continuation of the downward trend.

The Double Top reversal pattern has been formed on #Bitcoin M5. Characteristics: the upper boundary 72958.14; the lower boundary 72635.27; the width of the pattern is 33636 points. Sell trades are better to be opened below the lower boundary 72635.27 with a possible movements towards the 72635.12 level.