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 77199.23; the resistance level 77364.16; the width of the pattern 16493 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 18151 points.

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 77729.35; the lower boundary 77326.70; the width of the pattern 40265 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 77326.55 level.

According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 76719.61/77033.04 and upper border is 77268.35/77033.04. The pattern width is measured on the chart at -54874 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and #Bitcoin breaches the lower border, the price could continue its move toward 77032.89.

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 77799.39/77907.39 with the upper limit 78173.87/78181.01; the projection of the width is 37448 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 77799.39, the price is most likely to continue the downward movement.

On the chart of the #Bitcoin M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 77349.73, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 36504 points.

The Triple Bottom pattern has been formed on #Bitcoin M5. It has the following characteristics: resistance level 77291.83/77222.30; support level 76736.14/76706.05; the width is 55569 points. In the event of a breakdown of the resistance level of 77291.83, the price is likely to continue an upward movement at least to 76744.55.

The Double Bottom pattern has been formed on #Bitcoin M5. Characteristics: the support level 76736.14; the resistance level 77291.83; the width of the pattern 55569 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 54743 points.

According to the chart of H1, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 77696.18/78192.89 and upper border is 78628.10/78192.89. The pattern width is measured on the chart at -93192 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and #Bitcoin breaches the lower border, the price could continue its move toward 78192.49.

According to the chart of M30, #Bitcoin formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 77696.18 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -92574 pips.

According to the chart of M30, #Bitcoin formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 78328.68 - 0.00 and support 77614.68 – 77614.68. In case the resistance level 77614.68 - 77614.68 is broken, the instrument is likely to follow the bearish trend.