[2021-08-09] BTCUSD, Broadening Bottom

A broadening bottom pattern usually forms in a downtrend and potentially signals as a bull market reversal. It has the appearance of a megaphone as the price expands with higher highs and lower lows.
This chart pattern looks like a potential correction before moving lower, but instead indicates a reversal in the previous trend. A broadening bottom is a form of consolidation and forms a support and a new base for the bull reversal.