doublebottomed
A double bottom is a chart pattern that appears on financial market charts, indicating a potential reversal of a downtrend. It is characterized by two distinct troughs that are roughly at the same price level, separated by a moderate peak. The pattern is considered complete and the reversal confirmed when the price breaks through the resistance level formed by the peak between the two troughs.
The formation of a double bottom suggests that selling pressure, which had been dominant and pushing prices
Traders often use the double bottom pattern to identify potential buying opportunities. The confirmation of the