Renowned trading expert John Bollinger recently released an important technical analysis update on Bitcoin price trends, attracting widespread attention from the market.

Bollinger has marked the current trend of Bitcoin as a "failure" signal in his latest chart analysis, based on specific technical formations that Bitcoin has established. According to his observations, Bitcoin currently presents a combination pattern of a "W" shaped bottom and "three pushes up," which is a common market structure in technical analysis, typically appearing near the end of a strong upward trend.

Specifically, Bitcoin formed a rounded bottom between March and April, followed by three distinct waves of upward momentum, peaking slightly above the $110,000 level before losing steam. Bollinger identified this "W" pattern as early as April and shared a detailed annotated chart analysis on June 12, indicating that the third push upward had already failed. This subtle but crucial change could become a turning point for the market.

It is worth noting that this technical form does not necessarily indicate a trend reversal, but usually suggests that the previous upward momentum is weakening, and the market may enter a consolidation or adjustment phase.

Currently, the Bitcoin price is running slightly below the middle band of the Bollinger Bands, which is a key area that investors need to pay close attention to. If Bitcoin can hold this level, it may enter a consolidation phase and stabilize again; if it breaks below this area, it could trigger a deeper correction, with the price possibly moving towards the lower band of the Bollinger Bands around $94,000.

However, if a significant rebound occurs along with a large trading volume, it may indicate that the current trend has not fully cooled down. Bollinger's analysis is more about confirming that the upward structure has changed rather than simply predicting the market top. The next movement of the market will set the tone for the remainder of this quarter, and the current focus of investors is: whether buyers still have the ability and willingness to continue pushing prices higher.

From a broader perspective, this change in technological form also reminds investors to remain vigilant at high levels, as market volatility may intensify. The cyclical characteristics of the digital asset market are continuously manifesting, and it is particularly important for long-term investors to rationally address short-term fluctuations.