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

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 73882.65 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -57510 pips.

The Double Bottom pattern has been formed on #Bitcoin M5. Characteristics: the support level 70672.51; the resistance level 71103.00; the width of the pattern 43049 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 41789 points.

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 71272.45; the lower boundary 70986.63; the width of the pattern 28582 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 70986.48 level.

The Double Bottom pattern has been formed on #Bitcoin M5; the upper boundary is 71570.68; the lower boundary is 71379.18. The width of the pattern is 18200 points. In case of a break of the upper boundary 71570.68, 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.

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 73829.18; the lower boundary 73505.68; the width of the pattern 32350 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 73505.53 level.

According to the chart of H1, #Bitcoin formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 72888.63 – 72888.63 and upper border 74510.28 – 74510.28. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Bearish pennant pattern has formed on the #Bitcoin M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 71678.82 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Bottom pattern has been formed on #Bitcoin M5. Characteristics: the support level 71588.41; the resistance level 71895.28; the width of the pattern 30687 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 31159 points.

The Bullish pennant graphic pattern has formed on the #Bitcoin M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 69392.27.

According to the chart of M5, #Bitcoin formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 69588.49 and 68607.94 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 98055 pips. Outlook: If the upper border 69588.49 is broken, the price is likely to continue its move by 69137.86.