$NOT — a double bottom requires confirmation
For $NOT , a recovery bounce may be possible after a base forms. But two similar lows alone do not confirm a reversal.
For a double-bottom pattern to be considered valid, price needs to break through the intermediate resistance and hold above it. Without that, the range may continue, and price could test the lows again.
Even a confirmed bounce does not mean the start of a major uptrend. It should be assessed in stages: the reaction to the breakout, a retest, and the nearest supply zone. Confidence in a project and the quality of a specific trading setup are separate matters.
For $NOT , a recovery bounce may be possible after a base forms. But two similar lows alone do not confirm a reversal.
For a double-bottom pattern to be considered valid, price needs to break through the intermediate resistance and hold above it. Without that, the range may continue, and price could test the lows again.
Even a confirmed bounce does not mean the start of a major uptrend. It should be assessed in stages: the reaction to the breakout, a retest, and the nearest supply zone. Confidence in a project and the quality of a specific trading setup are separate matters.