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Patterns are graphical models which are formed in the chart by the price. According to one of the technical analysis postulates, history (price movement) repeats itself. It means that the price movements are often similar in the same situations which makes it possible to predict the further development of the situation with a high probability.
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was formed on 11.01 at 01:45:34 (UTC+0)
signal strength 1 of 5
According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 94541.93/94757.99 and upper border is 94946.96/94757.99. The pattern width is measured on the chart at -40503 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 94757.84.
The M5 and M15 time frames may have more false entry points.
