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Bitcoin is completing a "W"-shaped reversal pattern, according to John Bollinger, creator of the Bollinger Bands indicator, as BTC holds above $60,000.
Bitcoin (BTC) is nearing the completion of a "W"-shaped reversal pattern, a technical signal that could mark the end of its recent downtrend, according to John Bollinger, creator of the Bollinger Bands volatility indicator [1, 2]. The cryptocurrency's price has held above the $60,000 level, coinciding with renewed institutional interest and the first net inflows into US spot Bitcoin exchange-traded funds (ETFs) in ten days [1].
| At a glance | |
|---|---|
| Current Price | Around $62,500 [3] |
| Key Level | Holding above $60,000 [1] |
| Catalyst | "W"-shaped reversal pattern identified by John Bollinger [1] |
| ETF Flows | First net inflows in 10 days [1] |
John Bollinger highlighted the "W"-shaped double bottom on BTC/USD charts, noting its "perfectly fractal" nature with smaller "w" patterns at lows and an "m" at peaks [1]. This pattern, characterized by two swing lows with a rejected rebound in between, suggests a potential shift if Bitcoin's price breaks through the rejection level to form a new uptrend [1, 2]. Bollinger's analysis, shared on X, suggests this pattern could "break" the downtrend in place since October 2025 if it completes successfully [1]. He has been bullish on BTC, revealing a new long position via his Bitcoin investment vehicle in early May [1].
The observation comes as Bitcoin's price recently tagged a nine-day high of $62,300 [1]. The lower band of the Bollinger Bands indicator has been tested multiple times during recent lows, a behavior typical of capitulation phases, with the bounce suggesting selling pressure may be exhausting [2]. For the reversal to confirm, Bitcoin would need to break the central resistance of the "W" pattern, often referred to as the neckline [2].
The technical signals are aligning with a return of institutional buyer interest. US spot Bitcoin ETFs recorded their first net inflows in ten days, totaling $220 million [1]. While not "massive," these inflows are seen as significant for potential BTC price support, especially given that the price has held the ~$60,000 region despite prior outflows [1]. This resilience suggests "a lot of absorption has taken place," according to trader Daan Crypto Trades [1].
Analyst Axel Adler Jr. of CryptoQuant noted that the ETF segment's inflows signal an easing of pressure, indicating Bitcoin is in the "late stage of the bear cycle" [1]. This coincides with other price indicators flashing signals not seen since the 2022 bear market [1].
The confluence of a widely recognized technical pattern and renewed institutional interest suggests a potential shift in Bitcoin's market dynamics, though confirmation of the "W" reversal remains contingent on a decisive breakout [1, 2].
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 4, 2026 · How we report
Bitcoin is trading near $62,450, up about 1.5% over the prior 24 hours.
Weaker-than-expected US nonfarm payrolls (57,000 versus a 115,000 forecast) eased expectations of near‑term Federal Reserve rate hikes, supporting the rebound.
Bollinger suggests that if the pattern completes, it could break the downtrend that has persisted since October 2025, potentially signaling a shift toward bullish momentum.