FX.co ★ Patterns #Bitcoin | Bitcoin cryptocurrency Rate in the Forex market
#Bitcoin M5
Triple Bottom
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.
#Bitcoin M5
Double Bottom
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.
#Bitcoin M15
Bullish Symmetrical Triangle
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.
#Bitcoin M15
Bearish Symmetrical Triangle
According to the chart of M15, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 71452.02 is likely to encourage a continuation of the downward trend.
#Bitcoin M5
Double Top
The Double Top reversal pattern has been formed on #Bitcoin M5. Characteristics: the upper boundary 72958.14; the lower boundary 72635.27; the width of the pattern is 33636 points. Sell trades are better to be opened below the lower boundary 72635.27 with a possible movements towards the 72635.12 level.
#Bitcoin M5
Double Top
The Double Top reversal pattern has been formed on #Bitcoin M5. Characteristics: the upper boundary 71972.13; the lower boundary 71295.54; the width of the pattern is 65459 points. Sell trades are better to be opened below the lower boundary 71295.54 with a possible movements towards the 71295.39 level.
#Bitcoin M5
Double Bottom
The Double Bottom pattern has been formed on #Bitcoin M5. Characteristics: the support level 71052.92; the resistance level 71578.92; the width of the pattern 52600 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 50693 points.
#Bitcoin M30
Triple Top
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 2707, support level -24369, and pattern’s width 79676. Forecast If the price breaks through the support level 70809.23, it is likely to move further down to 71331.93.
#Bitcoin M15
Double Top
The Double Top pattern has been formed on #Bitcoin M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 70809.23 is broken, the downward movement will continue.
#Bitcoin M5
Double Top
On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 71332.23; the lower boundary 70809.23; the width of the pattern 52300 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 70809.08 level.