Bollinger Bands Creator Sees Possible Bitcoin Bear Market Reversal

John Bollinger, creator of the widely used Bollinger Bands indicator, says bitcoin may be forming a “W”-shaped double bottom that could signal the end of its current downtrend. In posts on X, Bollinger pointed to a series of bullish patterns that have failed in recent months, calling it proof of how strong the downtrend has been. He questioned whether this latest setup would finally be the one to break it.

Pattern Lines Up Across Multiple Timeframes

A “W” reversal forms when price hits two similar lows with a failed rally in between, then breaks above that rejected level to start a new uptrend. Bollinger shared a chart showing the pattern aligning closely with the lower Bollinger Band on the daily chart, describing it as fractal, with smaller “w” and “m” shapes appearing within the larger pattern. He noted a similar structure on the weekly chart as well. Bollinger has held a bullish stance on bitcoin for months, having opened a long position through his Bitcoin investment vehicle back in May.

Institutional Buying Shows Signs of Returning

The first net inflows into U.S. spot bitcoin ETFs in ten days, calling it an early signal that selling pressure may be easing even as bitcoin remains in the late stage of its bear cycle.

The $220 million inflow as modest but potentially meaningful for price support ahead. Most market watchers still expect the broader macro bottom to arrive in the third quarter or later.