TRIPLE BOTTOM
Triple bottom is a bullish chart pattern used in technical analysis that is characterized by three equal lows followed by a breakout above resistance.
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Resistance levels are price points where an asset tends to encounter selling pressure, preventing it from rising further. In trading, resistance levels act as a ceiling, where supply is strong enough to halt an upward trend. Traders use resistance levels to set exit points or stop-loss orders, anticipating that the price will reverse downwards. Identifying key resistance levels through technical analysis can help traders manage risk and make informed decisions about when to sell or short an asset.