The leading cryptocurrency Bitcoin (BTC) made a reputation for itself with its fresh epic of $111,000 unbiased appropriate just a few weeks ago, but then skilled a decline.
The truth that this decline has come very shut to the crucial degree of $100,000 has increased concerns that the correction may deepen even extra.
At this level, John Bollinger, a smartly-identified analyst and inventor of Bollinger Bands, warned that the bullish momentum in Bitcoin became weakening and extra pullbacks may occur.
John Bollinger said in his post from his X story that a “Three Peaks Push” pattern has fashioned on the Bitcoin chart.
A image supreme ‘Three Pushes to a High’ Bollinger Band Pattern marked the close of this rally section for $BTCUSD. https://t.co/KZ3GWr7a2o
— John Bollinger (@bbands) June 4, 2025
This pattern occurs when the Bitcoin note reaches the tip of the Bollinger Band three instances in a row but fails to transfer increased.
Noting that this pattern has occurred, the analyst acknowledged that the pattern intention that Bitcoin may experience extra declines and the bullish momentum may reverse earlier than experiencing a stable rise again.
Taking a explore on the chart shared by Bollinger, the associated price of Bitcoin reached stages shut to $ 108,000 and tested the higher band three instances. However, after these checks, the candles became smaller and the BTC note adopted an uptrend in preference to creating an immediate upward tear. Here is generally interpreted as a ticket that merchants bear lost their strength and momentum and that the associated price desires to chill down a cramped bit to beginning rising again.
*Here is no longer investment advice.
