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Ascending bottoms refers to a chart pattern in which the lows of the trading range get progressively higher over a given time frame. Ascending bottoms chart patterns can be used to evaluate stocks, commodities, indexes or virtually anything with a price/time chart. Ascending bottoms can be plotted for virtually any time frame: daily, weekly, monthly, yearly or even longer periods of time. Ascending bottoms are considered an indication of a rising market and are generally viewed as a bullish pattern. Ascending bottoms are considered an especially bullish pattern when combined with ascending tops. Ascending bottoms chart patterns are most likely to be used by a chartist or by a technical analyst. The opposite of ascending bottoms would be a descending bottoms pattern. |
