Bitcoin has experienced a sharp downward trend in recent weeks, leaving the market cautious yet mildly optimistic as certain technical signals begin to emerge. The continuing selling pressure has previously canceled out various bullish indicators that appeared earlier. Market technician John Bollinger, known for developing the widely used Bollinger Bands indicator, drew attention to the formation of a double-bottom W pattern in a Thursday analysis. He noted that this structure could serve as the first significant technical signal potentially ending Bitcoin’s ongoing downtrend after several failed attempts to reverse momentum.