Double bottom is a technical indicator that is considered bullish. I know that many are skeptical about its applicability when it comes to Hive Engine tokens like LEO. Many would argue that the token could easily be manipulated due to low liquidity.
However, for the sake of probability, I would still use this technical indicator as a guide in my trading activity. The first low was made on September 13 at 0.54 SWAP.HIVE. Three months after, just today, we witnessed the second low at 0.53 SWAP.HIVE. Since crypto and DEXes in particular are different from stocks and CEXes, I am aware that this type of indicator is unreliable. Nevertheless, in the stock market, a double bottom is considered a long-term reversal pattern, particularly if the two lows are separated by at least a month. In LEO's case, though it's a layer two token, at least, as far as timeframe is concerned, it satisfied that minimum time requirement. In fact, it even made the time gap longer three times.
Let the sellers attempt to push the price even lower, and let us see how the buyers will respond.
What do you think about this technical indicator? Does it signal a potential trend reversal? I will wait until January next year to satisfy this curiosity.