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Long

XEM Go Long: Triple Bottom Formation

POLONIEX:XEMBTC   NEM / Bitcoin
As the Triple Bottom Reversal develops, it can start to resemble a number of patterns. Before the third low forms, the pattern may look like a Double Bottom Reversal. Three equal lows can also be found in a descending triangle or rectangle . Of these patterns mentioned, only the descending triangle has bearish overtones; the others are neutral until a breakout occurs. Similarly, the Triple Bottom Reversal should also be treated as a neutral pattern until a breakout occurs. The ability to hold support is bullish , but demand has not won the battle until resistance is broken. Volume on the last advance can sometimes yield a clue. If there is a sharp increase in volume and momentum, then the chances of a breakout increase.

Source:http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:triple_bottom_reversal
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