What is the defining characteristic of a Shaven Bottom pattern?

The defining characteristic of a Shaven Bottom pattern is that it consists of a candle that opens at its low and closes higher without having a lower wick. This signifies strong bullish sentiment because the absence of a lower wick indicates that sellers were unable to push the price lower during the trading session, suggesting a decisive move upwards from the opening price.

This pattern often indicates a potential reversal point where the prevailing downtrend may be ending, and buyers are gaining control, making it a notable bullish signal in candle analysis. It usually appears after a downtrend and highlights an important shift in market momentum and psychology.

Understanding the Shaven Bottom pattern is crucial for traders as it can provide insights into potential buying opportunities and changes in market dynamics.