Bollinger Bands Creator Sees Bitcoin Bear Market Nearing End

John Bollinger, the legendary technical analyst who invented Bollinger Bands, publicly suggested this week that Bitcoin's prolonged bear market may be drawing to a close, pointing to a classic 'W'-shaped reversal pattern forming on price charts as BTC staged a notable rebound.

The 'W' formation — also known as a double-bottom pattern — is widely regarded among technical traders as one of the more reliable signals of a downtrend losing momentum. Bollinger indicated that if the pattern completes successfully, the resulting price strength could effectively "break" the entire existing downtrend structure surrounding Bitcoin.

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Bollinger's observation carries particular weight given that his namesake indicator, Bollinger Bands, is one of the most widely used volatility and trend tools in financial markets. When the creator of a foundational charting tool weighs in on a market setup, institutional and retail traders alike tend to pay close attention to the underlying thesis.

The timing of Bollinger's comments coincides with a broader conversation in crypto markets about whether Bitcoin has already established a durable floor or remains vulnerable to another leg lower. A confirmed 'W' reversal would require price to hold its second bottom above the first and then push through the resistance level formed between the two troughs — a development that has not yet been confirmed according to the source.

Market watchers will be closely monitoring Bitcoin's ability to sustain its current momentum and clear key overhead resistance levels in the sessions ahead, as confirmation of the pattern could attract fresh technical buyers and shift broader sentiment. Continue reading at Cointelegraph.