♥ ♥ Double Bottom Patterns ♥ ♥

A double bottom pattern is a classical pattern that indicates a change in trend and a shift in momentum from bearish to bullish. It is composed of two consecutive troughs that bottom out at roughly the same price level. This level acts as a support for the price. The double bottom formation is a bullish reversal pattern that is created after a prolonged downtrend. In order to identify this pattern, you will need to look for the following:

1. Two distinct troughs that bottom out at roughly the same price level.

2. A moderate rally in between the two troughs, creating a resistance.

3. A break above the resistance after the 2nd trough is formed.

If you see a chart with these characteristics, you have recognized a double bottom pattern.

This pattern is regarded as a very reliable reversal signal, and traders frequently use it to enter long positions.

Comment:

Liquidation Map

Short 🩸 🩸🩸 3 M ⚠️ -> $4.48
Longs ✅✅ ✅ 300 k -> $3.6

Comment:

Liquidation Map

Short 🩸 🩸🩸 5.32 M ⚠️⚠️⚠️ -> $ 4.5
Longs ✅✅ ✅ 100 k -> $3.12

Trade active:

The upward price explosion liquidating the shorts can be monstrous.

Trade active:

The idea is still valid. ✅✅✅

It is a long-term position 💎💎💎

Trade active:

First resistance 4.5 -> BROKEN ✅

Second resistance 5.7 -> In progress 💎

Trade active:

First resistance 4.5 -> BROKEN ✅

Second resistance 5.7 -> BROKEN ✅

Trade active:

Thanks to everyone who supported me, enjoy the profits. This is for the long term!