🔍 Double Bottom Pattern Analysis

Key Criteria for Double Bottom:

1. Two lows near the same price level ✔️

Yes, visible near the 100,372 and 100,837 levels.

2. Moderate rise between the two bottoms (neckline) ✔️

There is a clear bounce between the two lows, with resistance around 104,900–105,000.

3. Volume: Ideally, second bottom should have slightly lower volume than the first.

Volume is not sharply different but does decline.

✅ This does resemble a double bottom setup.

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🎯 Double Bottom Target Calculation

Formula:

Target = Neckline + (Neckline - Bottom)

Using the following values:

Bottom: ~100,372

Neckline/Resistance: ~104,900

Difference: 104,900 - 100,372 = 4,528

🔼 Target = 104,900 + 4,528 = 109,428

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⚠️ What to Watch Before Entry:

Price must break and close above the neckline (104,900) with good volume.

RSI is still at 30.18 – near oversold. Could support a bullish reversal.

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📌 Conclusion:

Yes, it is a potential double bottom.

Target on breakout: 109,400 – 109,500

But wait for confirmation (close above 104,900) before acting.