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

The Double Top pattern has been formed on #Bitcoin M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 66650.37 is broken, the downward movement will continue.

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 65184.21 is broken. The further movements will rely on the width of the current pattern 14321 points.

According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 63765.06 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -64682 pips.

According to the chart of M5, #Bitcoin formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 65108.77/64730.05 whereas the lower border goes across 64367.93/64730.05. The pattern width is measured on the chart at 74084 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 64730.05 is broken, the price could continue its move toward 64730.20.

On the chart of #Bitcoin H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 64967.61; the lower boundary 62533.19; the width of the pattern 243442 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 62532.79 level.