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

The Double Bottom pattern has been formed on #Bitcoin M5; the upper boundary is 62535.05; the lower boundary is 62268.95. The width of the pattern is 26801 points. In case of a break of the upper boundary 62535.05, 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.

The Double Top reversal pattern has been formed on #Bitcoin M5. Characteristics: the upper boundary 63607.43; the lower boundary 63400.12; the width of the pattern is 22141 points. Sell trades are better to be opened below the lower boundary 63400.12 with a possible movements towards the 63399.97 level.

The Triple Bottom pattern has formed on the chart of the #Bitcoin M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 63770.65/63324.25.

According to the chart of M30, #Bitcoin formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 64674.79 and 63501.84 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 117295 pips. Outlook: If the upper border 64674.79 is broken, the price is likely to continue its move by 64069.49.

According to the chart of M15, #Bitcoin formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 63506.31/64071.57 whereas the upper border goes across 64674.79/64071.57. 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 64071.80.

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 64493.53; the lower boundary 63591.26; the width of the pattern 90227 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 63591.11 level.

According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 63591.26 is likely to encourage a continuation of the downward trend.

According to the chart of M5, #Bitcoin formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 63905.69, the lower border is 63591.26. The signal means that a short position should be opened after fixing a price below the lower border 63591.26 of the Bearish Rectangle.

The Double Bottom pattern has been formed on #Bitcoin M5. Characteristics: the support level 63591.26; the resistance level 63905.69; the width of the pattern 31443 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 30232 points.

The Bearish pennant pattern has formed on the #Bitcoin M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 63831.99, a trader will be able to successfully enter the sell position.