FX.co ★ Patterns #Bitcoin | Bitcoin cryptocurrency Rate in the Forex market

The Double Bottom pattern has been formed on #Bitcoin M15. Characteristics: the support level 85149.24; the resistance level 86530.69; the width of the pattern 138145 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 148173 points.

According to the chart of M5, #Bitcoin formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 86530.69, the lower border is 85149.24. The signal means that a short position should be opened after fixing a price below the lower border 85149.24 of the Bearish Rectangle.

The Double Bottom pattern has been formed on #Bitcoin M5. Characteristics: the support level 85258.25; the resistance level 86381.02; the width of the pattern 112277 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 123178 points.

According to the chart of M15, #Bitcoin formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 94966.34 and support 92306.53. In case the resistance level 94966.34 - 94966.34 is broken, the instrument is likely to follow the bullish trend.

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 94147.20; the lower boundary 92306.53; the width of the pattern 184067 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 92306.38 level.

According to the chart of M30, #Bitcoin formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 85489.25 – 85489.25 and upper border 86516.03 – 86516.03. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to the chart of M15, #Bitcoin formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 86516.03, the lower border is 85489.25. The signal means that a long position should be opened above the upper border 86516.03 of the Bullish Rectangle.

The Triple Top pattern has formed on the chart of the #Bitcoin H1. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 84310.46/85489.25 with the upper limit 86516.64/86516.03; the projection of the width is 220618 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 84310.46, the price is most likely to continue the downward movement.

On the chart of #Bitcoin H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 86450.98; the lower boundary 84310.46; the width of the pattern 214052 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 84310.06 level.

The Triple Top pattern has formed on the chart of the #Bitcoin M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 85753.21/85928.25 with the upper limit 86241.82/86301.13; the projection of the width is 48861 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 85753.21, the price is most likely to continue the downward movement.