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

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 66810.93 is broken, the downward movement will continue.

The Triple Top pattern has formed on the chart of the #Bitcoin M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -4922, support level -76334, and pattern’s width 112789. Forecast If the price breaks through the support level 68220.24, it is likely to move further down to 69495.10.

According to the chart of M5, #Bitcoin formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 68462.44, the lower border is 68251.23. The signal means that a long position should be opened above the upper border 68462.44 of the Bullish Rectangle.

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 69458.36, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 10178 points.

According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 69023.57/69373.92 and upper border is 69731.95/69373.92. The pattern width is measured on the chart at -70838 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 69373.77.

The Double Bottom pattern has been formed on #Bitcoin H1; the upper boundary is 71651.10; the lower boundary is 68833.55. The width of the pattern is 277877 points. In case of a break of the upper boundary 71651.10, 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 Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 69039.05 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -163190 pips.

The Triple Bottom pattern has formed on the chart of #Bitcoin M5. Features of the pattern: The lower line of the pattern has coordinates 70920.11 with the upper limit 70920.11/70833.02, the projection of the width is 51986 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 70400.25, the price is most likely to continue the upward movement.

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 70920.11 is broken. The further movements will rely on the width of the current pattern 51986 points.

According to the chart of M15, #Bitcoin formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 72984.93 and 71787.51 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 119742 pips. Outlook: If the upper border 72984.93 is broken, the price is likely to continue its move by 72331.49.