A double bottom can often indicate a reversal from a downtrend to an uptrend, in its simplest form it means that the base is where support is coming in from buyers. This is a bullish signal IMO and should indicate that the at the very least the next few candle sticks will uptrend.

I am told that the further apart the double bottom is the better the chances of a bounce or a reversal is.

Here are some examples: