PANews reported on April 11 that according to Cointelegraph, well-known leading indicators show that Bitcoin is showing classic "bottom" characteristics. On April 10, John Bollinger, the founder of the Bollinger Bands volatility indicator, posted on the social platform X that Bitcoin bulls are brewing positive signals. The Bollinger Bands %b indicator suggests that Bitcoin prices are about to rebound, and the latest Bollinger Bands data shows that Bitcoin may be building a long-term bottom. Through weekly level analysis, Bollinger specifically pointed out that his original %b indicator is releasing trend reversal signals. The indicator provides a basis for judging market turning points by calculating the closing price of an asset relative to the Bollinger Bands position (based on the standard deviation range of the 20-period simple moving average). Among them, the W-shaped double bottom pattern is particularly worthy of attention-when the price first falls below the lower track to form a low point, the second callback forms a higher low point, which often indicates a reversal opportunity. Bollinger confirmed to his followers: "Bitcoin is forming a classic Bollinger Bands W bottom pattern, but it still needs to be confirmed."

Judging from the weekly and daily Bollinger Bands, there has been no trend change yet. Data shows that the daily price of Bitcoin continues to run along the lower track, and the middle track SMA constitutes resistance. Jurrien Timmer, global macro director of Fidelity Investments, found similar technical characteristics when analyzing US stocks, pointing out that the S&P 500 index has fallen from two standard deviations above the trend line to nearly two standard deviations below the trend line. Although it is in the oversold area, it has not yet reached the historical extreme value.