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$CVC FORMED DOUBLE BOTTOM CHART PATTERN
Double Bottom Chart Pattern (Bullish Reversal)
A Double Bottom is a bullish chart pattern shaped like a “W”, signaling a potential trend reversal from down to up.
Key Features:
First Bottom – Price drops, then rebounds.
Second Bottom – Price retests the same support level, then rises again.
Neckline – Resistance level between the two bottoms.
Breakout – Bullish signal occurs when price breaks above the neckline.
How Traders Use It:
Entry: On breakout above neckline.
Stop-Loss: Below second bottom.
Target: Height from bottom to neckline added to breakout point.
Tips:
Look for strong volume on breakout.
Confirm with indicators like RSI or MACD.
Beware of false breakouts.
Double Bottom Chart Pattern (Bullish Reversal)
A Double Bottom is a bullish chart pattern shaped like a “W”, signaling a potential trend reversal from down to up.
Key Features:
First Bottom – Price drops, then rebounds.
Second Bottom – Price retests the same support level, then rises again.
Neckline – Resistance level between the two bottoms.
Breakout – Bullish signal occurs when price breaks above the neckline.
How Traders Use It:
Entry: On breakout above neckline.
Stop-Loss: Below second bottom.
Target: Height from bottom to neckline added to breakout point.
Tips:
Look for strong volume on breakout.
Confirm with indicators like RSI or MACD.
Beware of false breakouts.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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