Bottom Triangle - Bottom Wedge
Updated
Shemaroo
The price has reached a point where it appears to have hit a bottom and is now showing signs of a potential reversal. This is indicated by a pattern known as a Bottom Triangle, which involves two trendlines converging as prices form lower highs and higher lows. During this phase, the trading volume tends to decrease as the price fluctuates within a narrower range, reflecting market uncertainty.
However, before the triangle pattern reaches its apex, there is a significant breakthrough above the upper trendline accompanied by a noticeable increase in trading volume. This breakout and surge in volume confirm the bullish nature of this pattern, indicating a reversal of the previous downtrend.
Note for everyone who came across this reference:
The price has reached a point where it appears to have hit a bottom and is now showing signs of a potential reversal. This is indicated by a pattern known as a Bottom Triangle, which involves two trendlines converging as prices form lower highs and higher lows. During this phase, the trading volume tends to decrease as the price fluctuates within a narrower range, reflecting market uncertainty.
However, before the triangle pattern reaches its apex, there is a significant breakthrough above the upper trendline accompanied by a noticeable increase in trading volume. This breakout and surge in volume confirm the bullish nature of this pattern, indicating a reversal of the previous downtrend.
Note for everyone who came across this reference:
- This chart analysis is only for reference purpose.
- This is not buying or selling recommendations.
- I am not SEBI registered.
- Please consult your financial advisor before taking any trade.
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