Bitcoin (BTC) is exhibiting familiar “bottom” behavior at current prices, according to one of its best-known leading indicators.
In an X post on April 10, John Bollinger, creator of the Bollinger bands volatility metric, revealed good news in progress for Bitcoin bulls.
Bollinger bands %b metric teases BTC price comeback
Bitcoin may already be establishing a long-term bottom, the latest Bollinger bands data suggests.
Analyzing weekly timeframes, Bollinger himself drew attention to one of his proprietary indicators, known as “%b,” which offers further clues about market trend reversals.
%b measures an asset’s closing price relative to Bollinger band position, employing standard deviation around a 20-period simple moving average (SMA).
Among its insights is the “W” bottom formation, where a first low beneath zero is followed by a higher low retest later — something that could now be in play for BTC/USD.
Bollinger