The cryptocurrency market is abuzz with the latest insights from legendary trader John Bollinger, creator of the widely-used Bollinger Bands, who has recently commented on the ongoing Bitcoin rally. According to Bollinger, Bitcoin's impressive surge might be nearing a critical turning point as it faces strong resistance at the $110,000 mark, raising concerns among investors about potential exhaustion.
In a series of updates shared on social media, Bollinger pointed to a technical pattern known as 'Three Pushes to a High', which often signals the end of a rally phase. This pattern suggests that Bitcoin's upward momentum could be waning, potentially leading to a period of consolidation or even a price reversal in the near future.
Bitcoin, the world's leading cryptocurrency, has seen remarkable growth in 2025, recently hitting a record high of $111,980. However, with the current price hovering around $104,515 after a recent 3% drop, Bollinger's analysis has sparked discussions about whether the bull run is sustainable or if a significant correction is on the horizon.
Analysts note that Bitcoin's price action post the April 2024 halving event mirrors patterns seen in previous cycles, such as the consolidation below $30,000 in 2023 before a parabolic rise. While some remain optimistic about a potential breakout, Bollinger's warning of a Bollinger Bands failure at current levels has added a layer of caution to market sentiment.
Investors are advised to closely monitor key support and resistance levels in the coming days. A failure to break past the $110,000 resistance could confirm Bollinger's predictions, potentially delaying the much-anticipated continuation of Bitcoin's upward trajectory.
As the crypto community awaits further developments, Bollinger's insights serve as a reminder of the volatile nature of digital assets. Whether Bitcoin will defy the odds or succumb to technical pressures remains to be seen, but for now, all eyes are on the charts.
Alfred Lee
