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

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 74747.47/74539.74 whereas the lower border goes across 74273.47/74539.74. The pattern width is measured on the chart at 47400 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 74539.74 is broken, the price could continue its move toward 74539.89.

The Bullish pennant graphic pattern has formed on the #Bitcoin M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 75587.83.

According to the chart of M5, #Bitcoin formed the Inverse Head and Shoulder pattern. The Head’s top is set at 76210.18 while the median line of the Neck is found at 75836.68/76021.18. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of #Bitcoin will go towards 76210.33

The Triple Bottom pattern has been formed on #Bitcoin M5. It has the following characteristics: resistance level 77652.54/77389.81; support level 77101.34/77002.58; the width is 55120 points. In the event of a breakdown of the resistance level of 77652.54, the price is likely to continue an upward movement at least to 77088.76.

The Double Bottom pattern has been formed on #Bitcoin M5; the upper boundary is 77652.54; the lower boundary is 77088.61. The width of the pattern is 55120 points. In case of a break of the upper boundary 77652.54, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.