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

The Triple Bottom pattern has been formed on #Bitcoin M5. It has the following characteristics: resistance level 116154.33/115987.88; support level 115100.14/114755.07; the width is 105419 points. In the event of a breakdown of the resistance level of 116154.33, the price is likely to continue an upward movement at least to 114998.00.

The Triple Bottom pattern has formed on the chart of #Bitcoin M5. Features of the pattern: The lower line of the pattern has coordinates 116154.33 with the upper limit 116154.33/115498.43, the projection of the width is 105419 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 115100.14, the price is most likely to continue the upward movement.

On the chart of #Bitcoin M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 108196.50; the lower boundary 107810.44; the width of the pattern 38606 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 107810.20 level.

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 108059.29 is broken, the downward movement will continue.

According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 107810.44 is likely to encourage a continuation of the downward trend.

The Bullish pennant signal – Trading instrument #Bitcoin M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 108182.82, with the prospect of the next move being a projection of the flagpole height.

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 108036.85 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on #Bitcoin M5. Characteristics: the support level 107955.72; the resistance level 108251.09; the width of the pattern 29537 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 30473 points.

According to the chart of M5, #Bitcoin produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 107290.48 while the median line of the Neck is set at 107901.08/107867.76. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of #Bitcoin will go towards 107867.90.

The Double Bottom pattern has been formed on #Bitcoin M5. Characteristics: the support level 108904.37; the resistance level 109120.02; the width of the pattern 21565 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 21969 points.