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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.
Relevant patterns by InstaForex is an easy-to-use service which allows you to be aware of latest changes in the market and react to clues from the market in time. In our service you will always find the latest and most relevant patterns on any pair and any timeframe.
Double Top was formed on 29.07 at 21:00:11 (UTC+0) signal strength 1 of 5
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 11072.80 is broken, the downward movement will continue.
The M5 and M15 time frames may have more false entry points.