#TradingTypes101 This chart is showing a technical analysis pattern on the SOLVUSDT (Solv token against USDT) trading pair on the Bybit exchange, on a daily timeframe. Here's a clear breakdown of what's happening and how to interpret it:

🧠 Chart Pattern Analysis

This is a “Double Bottom” or “W” reversal pattern, which is a bullish pattern indicating a possible trend reversal from down to up.

📌 Key Points:

Left and Right Bottoms (curved arrows):

These show where the price found support and bounced twice.

This forms a “W” shape.

Neckline (Green horizontal line):

Around the $0.044 price level.

Price must break above this for the pattern to confirm.

Measured Move (Target):

After breaking the neckline, the expected move up is +0.02221 (+50.63%) from the breakout point.

Target is around $0.066–$0.067.

Previous Drop:

From the neckline, price fell about -0.02233 (-50.90%), and now it's projected to rise back the same amount, which is common in this pattern.

📈 Current Status

Current price: $0.04482.

Price is testing the neckline zone.

If it closes above the neckline with volume, it's a breakout confirmation.

This implies a potential bullish move toward $0.066.

🛑 Caution:

Always wait for confirmation (strong breakout candle).

Watch for volume increase.

Use stop-losses below recent lows if trading.

If you want help setting entry/exit points or stop-loss levels, or need this translated to Sinhala, let me know!