Glossary - ChicksX

Double Bottom is a bullish chart pattern indicating a potential trend reversal from downtrend to uptrend.

Double Bottom is a technical analysis chart pattern used to identify a reversal in a downward trend. It forms when a currency or asset's price hits a low, rebounds, drops again to a similar low, and then rises. This pattern resembles the letter "W" and suggests that the asset may be poised for an upward move. Traders often look for a breakout above the resistance level between the two lows to confirm the pattern. It's considered a bullish signal, indicating potential for price increases.