Bitcoin is completing what one well-known analyst calls a “perfectly fractal” reversal pattern that he hopes could mark the end of the current bear market.
Bollinger hints at a trend break
In posts on X Friday, John Bollinger, creator of the Bollinger Bands volatility indicator, pointed to a “W”-shaped double bottom forming on BTC/USD.
He noted that Bitcoin has repeatedly seen bullish patterns fail, showing the strength of the downtrend:
“Will this ‘W’ be the one that breaks the trend?”
A “W”-shaped reversal involves two swing lows with a rejected rebound in between, before price finally breaks through that rejection level to form a new uptrend.
Bollinger shared a chart showing how neatly the setup aligns with the lower Bollinger Band on daily time frames:
“Note that it is perfectly fractal. There are small ‘w’s at the nadirs and a small ‘m’ at the apex.”
He has been bullish for a while, revealing a new long position through his Bitcoin investment vehicle back in early May.
ETF inflows return
CryptoQuant contributor Axel Adler Jr. stressed the significance of renewed institutional buying, noting Bitcoin sits in the late stage of the bear cycle:
“Bitcoin is in the late stage of the bear cycle, but the ETF segment has for the first time signaled that the pressure is easing.”
On Friday, US spot Bitcoin ETFs saw their first net inflows in ten days, totaling around $220 million.
Price holds $60K
Trader Daan Crypto Trades called the inflows “not massive” but meaningful for support.
He highlighted that price has held the roughly $60,000 region despite heavy outflows, suggesting significant supply absorption has already taken place.
