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

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 61967.56; the lower boundary 61213.02; the width of the pattern 75454 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 61212.87 level.

The Double Bottom pattern has been formed on #Bitcoin M5; the upper boundary is 62834.23; the lower boundary is 62204.55. The width of the pattern is 61101 points. In case of a break of the upper boundary 62834.23, 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.

According to the chart of M5, #Bitcoin formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 67924.91 and 65692.73 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 223218 pips. Outlook: If the upper border 67924.91 is broken, the price is likely to continue its move by 66881.86.

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 66769.99 is broken. The further movements will rely on the width of the current pattern 56206 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 67074.59 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -123618 pips.