$ARB Spotting ARB's Bullish W Pattern
A bullish "W" pattern, or double bottom, on Arbitrum's (ARB) chart is a strong technical reversal signal indicating a potential shift from a downtrend to a new uptrend.
This pattern forms when ARB's price establishes two distinct lows at a similar support level, with a moderate peak between them creating a resistance neckline. The second low often occurs on diminished volume, signaling selling exhaustion.
The bullish reversal is confirmed by a decisive breakout above the neckline resistance, ideally accompanied by a surge in trading volume. This projects an upward price move with a minimum target equal to the pattern's depth.
Ultimately, this pattern suggests ARB has solidified a major support base, with buyers seizing control to initiate a new bullish phase.$PIPPIN $POWER
