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A broadening bottom pattern usually forms in a downtrend and potentially signals as a bull market reversal. It has the appearance of a megaphone as the price expands with higher highs and lower lows.
This chart pattern looks like a potential correction before moving lower, but instead indicates a reversal in the previous trend. A broadening bottom is a form of...
AS the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price, a bullish divergence occurs.
This indicates rising bullish momentum.
In addition, the falling wedge is a bullish pattern regardless of what kind of market it appears in.
The break happens when a price goes through and stays above the resistance line.