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HONG KONG — John Bollinger, the technical analyst who developed the Bollinger Bands indicator, has raised the prospect that Bitcoin's bear market may be nearing its end, pointing to a potential 'W'-shaped price reversal forming on the chart as $BTC stages a rebound.
Bollinger suggested that if the pattern runs to completion, price strength could "break" the entire prevailing downtrend — a conditional but structurally significant call from one of the most cited names in technical analysis.
What a 'W' Reversal Actually Means A 'W' formation — also known as a double bottom — is a classical chart pattern in which price carves two successive lows at roughly comparable levels before recovering.
The thesis is that sellers exhaust themselves on the second leg, leaving buyers in control.
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