Bitcoin may be nearing a key bottom, according to legendary trader John Bollinger. The creator of the widely used Bollinger Bands tool suggests the cryptocurrency could be forming a bullish W bottoming pattern. This technical formation, characterized by a higher low and a touch of the lower band, often signals a potential trend reversal. However, Bollinger cautions that the pattern has not yet been confirmed on Bitcoins weekly chart. After a sharp sell-off, Bitcoin briefly fell below horizontal support, reaching a multi-month low of $74,415 on April 7. The decline mirrored a broader market…
Source:: Bitcoin Bottom in Sight? Bollinger Bands Hint at Bullish Reversal