Triple Bottom

A triple bottom is a chart pattern used in technical analysis. It consists of three equal low points followed by a breakout above the resistance level. The triple bottom chart model usually occur after a long downward trend, which means sellers take control of the market. The first bottom in the triple bottom chart represents a normal price movement, however, the second bottom indicates that the bulls are gaining momentum and a possible reversal will occur. The third bottom reveals a strong support. When the price breaks out the resistance level, the bears may fall.