Renowned analyst John Bollinger sees potential ‘W’ bottoms in Ether and Solana charts, signaling a big move may be ahead. Bitcoin has yet to form this pattern. Ether hit $3,700 twice this month, while Solana dipped to $175 in October. Bitcoin saw a major ‘V’ shaped dip below $104,000 before recovering over the weekend.

Analyst ‘Satoshi Flipper’ noted Bollinger’s previous advice led to a Bitcoin pump from below $55,000 to over $100,000. Bollinger Bands for Bitcoin widened this month after months of tight compression, signaling increased volatility following the leverage flush last weekend. Analysts predicted this “volatility storm” after a market lull in September.

Bitcoin has struggled to break above the $108,000 resistance level since Friday’s dump. Despite fear and panic, analysts believe we are not in a bear market. Analyst ‘Sykodelic’ remains bullish, using the 50-week simple moving average as a technical indicator. Each time Bitcoin revisited the 50-week SMA, it rebounded with strength.

Read more at Cointelegraph: Bollinger Spots W Bottoms In Ether And Solana Charts