# Bitcoin near $60,000 as Bollinger Bands creator spots W‑shaped

**Published:** 2026-07-05T15:55:47.591Z  
**Topic:** Bitcoin  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/d5deb504-14fa-4699-8c1a-9718ecd95541

Bitcoin hovers around $60K with a “W” double‑bottom pattern flagged by John Bollinger and fresh spot ETF inflows, signaling a possible end to the bear market.

Bitcoin is trading just above the reclaimed $60,000 level, where John Bollinger – the inventor of Bollinger Bands – identified a classic “W” double‑bottom that could, if the neckline breaks, end the downtrend that has persisted since October 2025 [1].

| At a glance | |
|---|---|
| Price | ≈ $60,000 |
| Recent move | Reclaimed $60K after prior dip |
| Catalyst | Bollinger’s “W” pattern + first spot ETF net inflow in 10 days ($220 M) |
| Institutional flow | $220 M net into US spot Bitcoin ETFs |

## Technical pattern and Bollinger’s view  
Bollinger posted a daily chart showing Bitcoin’s price hugging the lower Bollinger Band and forming two swing lows with a rejected rebound – the hallmark of a “W” reversal. He notes the pattern is “perfectly fractal,” with smaller “w” shapes at each nadir and a small “m” at the apex on the weekly chart. The critical test, he says, is a break above the midpoint (the “neckline”) between the two lows; a confirmed close there would “break” the prevailing downtrend [1].

## Institutional buying and on‑chain context  
Analyst Axel Adler Jr. of CryptoQuant highlighted the first net inflow into US spot Bitcoin ETFs in ten days, totaling about $220 million, as a sign that institutional pressure is easing [1]. Trader Daan Crypto Trades added that the price’s ability to hold near $60,000 despite recent outflows suggests significant supply absorption, a factor that could support further upside if the “W” pattern validates [1].

## Market sentiment and broader outlook  
While Bollinger’s technical signal is bullish, other market voices remain cautious. Some analysts still expect a macro bottom later in Q3 or beyond, and the pattern’s success hinges on volume confirming the breakout and on‑chain metrics such as whale activity staying supportive [2]. The convergence of technical, flow and on‑chain indicators makes the next few weeks pivotal for Bitcoin’s trajectory.

## What to watch
- **Neckline break**: The midpoint between the two recent lows; a close above this level would confirm the “W” reversal.  
- **ETF inflows**: Continued net inflows into spot Bitcoin ETFs, especially any repeat of the $220 M surge.  
- **Supply absorption**: On‑chain metrics indicating reduced selling pressure, such as declining large‑wallet outflows.

If Bitcoin manages to breach the neckline, the “W” pattern could signal the end of a bear market that has stretched since late 2025, but the ultimate direction will depend on whether volume, institutional flows and on‑chain dynamics align with the technical signal.

## Sources
1. Cointelegraph — [Bollinger Bands creator eyes Bitcoin bear-market end, 'W ...](https://cointelegraph.com/markets/bollinger-bands-creator-eyes-bitcoin-bear-market-end-w-shaped-reversal)
2. Investx — [Bollinger Bands: Is the Bitcoin Bear Market Over?](https://investx.fr/en/crypto-news/bitcoin-bear-market-bollinger-bands-w-reversal/)
3. CoinTelegraph — [Analyst says Bitcoin’s $60K bottom signals weaken bear-market forecast](https://cointelegraph.com/news/bitcoin-bear-market-prediction-btc-price-crypto-analyst)

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Cite as: TrendWatcher, "Bitcoin near $60,000 as Bollinger Bands creator spots W‑shaped", https://www.trendwatcher.in/article/d5deb504-14fa-4699-8c1a-9718ecd95541