The technical outlook in Bitcoin price attracted attention again. John Bollinger, one of the analysts closely followed in the market, stated that the last phase of the W formation has formed, which may indicate a strong return in the BTC / USD parity. Bollinger evaluated that if this structure is completed, the downward trend that has been in effect since October 2025 could be broken.
W formation stood out in the technical view
John Bollinger is known as the developer of the Bollinger Bands indicator, which is widely used in financial markets. In his post on X, he said that Bitcoin could not maintain several bullish signals before, which showed the strength of the downtrend. Despite this, he emphasized that the current price structure fits a W turn formation, which is a double bottom.
John Bollinger noted that many bullish structures have been broken in Bitcoin before, revealing the strength of the downtrend, while the current outlook points to a W formation that could reverse the trend.
The W formation is generally confirmed by exceeding the intermediate response level after two bottom zones. In the chart shared by Bollinger, it was seen that the price movement progressed in line with the lower band of the Bollinger Bands in the daily time frame. The analyst also stated that the structure has a fractal feature, and similar smaller-scale bottom and top formations are located in the same order. He added that a similar W view was also selected on the weekly chart.
Bollinger has been among the optimistic names about Bitcoin recently. At the beginning of May, he also announced that he had opened a new long position through his investment vehicle for Bitcoin.
Indicators do not fully coincide with market expectations
Some price indicators in the market have started producing signals not seen since the last bear market in 2022. However, many market participants believe that the real bottom has not yet occurred on a macro scale. According to this view, the new bottom period may become clear in the third quarter or later.
ETF inflows and the $60,000 region are being monitored
Axel Adler Jr., a contributor to on-chain data platform CryptoQuant, noted the importance of the revival of institutional buyer interest. Spot Bitcoin ETFs traded in the US recorded their first net inflow in ten days on Friday. This development was considered as one of the first signs that sales pressure on the corporate side may be easing.
Adler Jr. noted that Bitcoin is in the late phase of its bear cycle, but the ETF segment is giving the first signal that the pressure is easing. The net entry amount was 220 million dollars. Although this figure did not seem very large on its own, it stood out as a supporting element in terms of the direction of the price.
Daan Crypto Trades said that the entry of $ 220 million does not seem very large, but it may be important in terms of price support, and that Bitcoin’s holding around $ 60 thousand despite intense outflows may indicate a strong absorption process.
Trader Daan Crypto Trades found it particularly important to protect the $60,000 region. He stated that if the price reacts stronger within the next week, this area may stand out as a support zone where serious sales are met. The gradual recovery in corporate demand and technical formation coincided with this period, causing investors to focus on these levels in the short term.
