Bitcoin Set for W-Bottom Reversal

Potential W-Bottom Reversal for Bitcoin Identified by John Bollinger

• Bitcoin is forming a potential “W-bottom” pattern, according to analyst John Bollinger.
• The cryptocurrency has found support around the $74,000 area.
• Bitcoin’s price recently declined from a high near $110,000 to its current level of $81,366.
• Bollinger Bands indicate a wide range of volatility with the upper band at $108,837 and the lower band at $77,138.
• A confirmed reversal requires Bitcoin to break above the swing high near $90,000.

John Bollinger suggests Bitcoin may be forming a “W-bottom” pattern with support around $74,000. Confirmation of this bullish reversal would require breaking above $90,000. Currently, Bitcoin trades at $81,366 within a volatile range indicated by Bollinger Bands.