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

According to the chart of M5, #Bitcoin formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 65139.53/65296.39 whereas the upper border goes across 65522.75/65296.39. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of #Bitcoin will breach the upper border to head for 65296.54.

According to the chart of M5, #Bitcoin formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 65132.02/65353.69 whereas the upper border goes across 65522.75/65353.69. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of #Bitcoin will breach the upper border to head for 65353.84.

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 64836.25 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -84517 pips.

The Double Top reversal pattern has been formed on #Bitcoin H1. Characteristics: the upper boundary 66708.02; the lower boundary 65675.07; the width of the pattern is 109827 points. Sell trades are better to be opened below the lower boundary 65675.07 with a possible movements towards the 65674.67 level.

The Triple Top pattern has formed on the chart of the #Bitcoin M30 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -6532, support level -35258, and pattern’s width 103295. Forecast If the price breaks through the support level 65675.07, it is likely to move further down to 66490.66.

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 66102.90 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on #Bitcoin M5. Characteristics: the support level 65794.11; the resistance level 66114.54; the width of the pattern 32043 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 30294 points.

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 64622.88/64780.18 with the upper limit 65101.41/65095.70; the projection of the width is 47853 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 64622.88, the price is most likely to continue the downward movement.

The technical pattern called Head and Shoulders has appeared on the chart of #Bitcoin M5. There are weighty reasons to suggest that the price will surpass the Neckline 61855.89/61862.45 after the right shoulder has been formed. So, the trend is set to change with the price heading for 61862.30.

The Double Bottom pattern has been formed on #Bitcoin M30. Characteristics: the support level 61090.70; the resistance level 62278.20; the width of the pattern 118750 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 117352 points.