John Bollinger, creator of the Bollinger Bands indicator, sees Bitcoin forming a “W”-shaped double bottom that he hopes could end the downtrend running since October 2025. US spot Bitcoin ETFs posted their first net inflows in ten days as price held near $60,000.
John Bollinger thinks Bitcoin may be completing a reversal pattern that breaks its bear market. In X posts on Friday, the creator of the Bollinger Bands volatility indicator pointed to a “W”-shaped double bottom on BTC, a setup he described as “perfectly fractal.”
Bollinger reads a “W” on the charts
The pattern involves two swing lows with a rejected rebound between them, and price ultimately breaks through that rejection level to start a new uptrend. Bollinger said the current setup aligns with the lower Bollinger Band on daily time frames, and he flagged a similar “W” on the weekly chart.
He framed the question around the downtrend’s strength. According to Cointelegraph: “Will this ‘W’ be the one that breaks the trend?” he asked followers. Bollinger has been bullish for some time and revealed a new long position through his Bitcoin investment vehicle in early May.
ETF inflows hint at easing pressure
Institutional demand is slowly re-emerging. On Friday, US spot Bitcoin ETFs saw their first net inflows in ten days, according to CryptoQuant contributor Axel Adler Jr., who said the ETF segment had signaled for the first time that pressure is easing.
Trader Daan Crypto Trades noted the $220 million inflows were “not massive” but could support BTC going forward. He added that price holding the ~$60,000 region despite many outflows would become meaningful if the market bounces further, as it would mean a lot of absorption has taken place.
Source: Cointelegraph
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