John Bollinger Identifies Potential “W” Bottoms in Ethereum and Solana, Excludes Bitcoin

John Bollinger, the creator of the famous Bollinger Bands indicator, believes Ethereum and Solana may be forming “W” bottom structures—while Bitcoin is not. In a post on X dated October 18, Bollinger stated: “Potential ‘W’ bottoms in Bollinger Band terms in ETHUSD and SOLUSD, but not in BTCUSD. Gonna be time to pay attention soon I think.”

Understanding the “W” Bottom Setup

In Bollinger Band analysis, a “W” bottom represents a two-stage reversal pattern where the second trough holds above the first. This setup often follows an expansion and subsequent contraction of volatility bands. The pattern gains validity when the second low forms inside the bands or shows positive divergence against the lower band, followed by a squeeze and a move through the middle band that transitions into an advance along the upper band.

Bollinger’s cautious phrasing—“potential” and “time to pay attention”—suggests he is recognizing an early setup, not a confirmed reversal. The confirmation, in his framework, comes when prices break above the middle and upper bands with sustained momentum rather than from the shape of the lows alone.

Market Reacts to Rare Bollinger Commentary

The crypto community took notice, as Bollinger rarely comments on digital assets. Trader Satoshi Flipper pointed out that the analyst “makes barely one crypto call per year and hadn’t made one for ETH in three years until now.” He added that previous calls have historically marked major market bottoms.

Bollinger’s last significant Ethereum signal came on September 9, 2022, when ETH traded near $1,290 before rallying to $4,000. That performance has reinforced his reputation for precision among traders who see his statements as cycle-defining rather than routine observations.

Historical Context and Bitcoin’s Divergence

Earlier this year, Bollinger identified a similar structure in Bitcoin. On April 10, he described a “classic Bollinger Band W bottom” forming in BTCUSD. Days later, Bitcoin bottomed near $74,508 and surged more than 70% over the next six months.

His latest remarks, however, specifically exclude Bitcoin, hinting at a short-term divergence in volatility structure between the top cryptocurrencies. While Ethereum and Solana may be shaping bullish reversals, Bitcoin appears range-bound and has yet to reclaim the middle band.

What Comes Next for Ethereum and Solana

For ETH and SOL, confirmation of the W bottom would likely involve consistent closes above the 20-period moving average—the middle Bollinger Band—and a controlled advance guided by the upper band. Healthy reversals tend to build gradually through higher lows and mid-band retests rather than explosive spikes.

If prices instead fall back to the lower band or expand volatility without directional follow-through, the setup could fail to complete. As of publication, Ethereum was trading at $4,037, with traders closely monitoring whether Bollinger’s rare signal will once again mark a pivotal market turning point.