Bitcoin has officially completed a well-known technology setup that could shape the next major move: It’s been attracting the attention of veteran traders, especially after market legend John Bollinger highlighted it in his latest chart update.
The play pattern is a “w” bottom combination followed by what is known as “three pushes to highs.” This is a rather standard technical analysis structure and often appears near the end of a powerful trend. Bitcoin prices formed a round bottom between March and April, then climbed three different waves, slightly above $110,000 before losing momentum.
Bollinger first pointed out the double setup in April, sharing notes and charts on June 12th. This chart showed that the third push failed. This is a small but important change that could be a turning point.
I first posted about W on $BTCUSD on April 10th. Here is the annotated chart I promised. Three pushes have been confirmed. https://t.co/xzkewv06rt
– John Bollinger (@bbands) June 12, 2025
The pattern does not guarantee an inversion, but it usually means that the previous trend will lose steam and a new phase (lateral integration or modification) is likely.
Currently, Price Action is located just below the central Bollinger band. This is an important area to keep an eye on. If Bitcoin can hold this level, it may just drift sideways and reorganize. If it falls below that, it could lead to a bigger pullback towards the band around $94,000.
But if there is a larger bouncing with more volume, it may ultimately indicate that the trend is not cooled.
This is not to call the top, but to acknowledge that the structure of the rally has changed. The next move in the market is set tone for the rest of the quarter, and now we are looking to see if everyone still has the energy to push prices up.
