Bollinger Spots W Bottoms in Ethereum and Solana - Bitcoin Left Out of Pattern Formation

Technical analysis legend John Bollinger identifies classic W bottom formations emerging in two major altcoins while Bitcoin charts tell a different story.

Double Bottom Breakouts

Ethereum and Solana both display the bullish reversal pattern that typically signals momentum shifts. The W formation—characterized by two distinct troughs with a peak in between—suggests institutional accumulation after recent selloffs.

Bitcoin's Divergence

Notably absent from the pattern recognition? Bitcoin continues trading in its established range, missing the technical setup that's exciting traders about ETH and SOL. Sometimes the king watches while the princes dance.

Pattern traders are loading positions ahead of potential 20-30% moves if the W bottoms confirm. Because nothing says 'sound investment' like drawing lines on charts and hoping they mean something.

TLDR

• John Bollinger identified W bottoms in ETH and SOL but not in BTC charts.
• ETH/BTC ratio rose 7% this week, showing Ethereum is outperforming Bitcoin.
• Ethereum gained 1.52% and Solana rose 2.15% in the last 24 hours.
• BlackRock reduced Bitcoin holdings and increased Ethereum exposure.

Ethereum and Solana show early signs of recovery while Bitcoin remains flat. Veteran technical analyst John Bollinger believes ethereum (ETH) and Solana (SOL) may be forming bullish “W” bottom patterns. These formations suggest buying pressure may be returning to these altcoins. However, he does not see the same setup in Bitcoin (BTC), which continues to move sideways without a similar reversal structure.

ETH and SOL May Be Building Bullish Patterns

John Bollinger, creator of the Bollinger Bands technical indicator, posted on X (formerly Twitter) that Ethereum and Solana charts are showing potential “W” bottoms. He said, “Potential ‘W’ bottoms in Bollinger Band terms in $ETHUSD and $SOLUSD, but not in $BTCUSD. Gonna be time to pay attention soon I think.”

A “W” bottom is a technical pattern where the price drops twice and the second low is typically higher than the first. This shape often appears before a price recovery, especially when confirmed by narrowing Bollinger Bands. It usually suggests the selling pressure is weakening and buyers may be stepping in.

Bollinger had previously identified a similar setup in Bitcoin in April 2025, which was later followed by a strong rally. However, he now points out that Ethereum and Solana could be taking the lead in the current market cycle. He has not observed the same technical formation in Bitcoin at this time.

Bitcoin Lacks Reversal Setup, Remains in Consolidation

While ETH and SOL show potential bullish setups, Bollinger made it clear that bitcoin does not display similar conditions. The BTC/USD chart continues to trade sideways, without signs of a confirmed bottom. This lack of pattern could indicate that Bitcoin is still consolidating and not ready for a trend change yet.

Analysts have also noted that the market is shifting attention away from Bitcoin to other assets. Bitcoin remains around key support zones but has not shown any strong reaction to recent price drops. This may explain why traders and institutions are now turning to altcoins like Ethereum and Solana.

This divergence has been picked up by several market watchers who suggest that capital rotation could be taking place. It often happens when investors seek better performance outside of Bitcoin during periods of flat or weak price action.

Ethereum Outperforms Bitcoin as ETH/BTC Ratio Rises

The ETH/BTC pair has increased by 1% in the past 24 hours and is now up over 7% for the week. This shows that Ethereum is outperforming Bitcoin in the short term. A rising ETH/BTC ratio often points to improving strength in altcoins when compared to Bitcoin.

Crypto analytics firm TGW Capital reposted Bollinger’s recent comments, referencing his accurate Bitcoin call in April. They stated that ETH and SOL may follow a similar path if current patterns remain intact. Ethereum has risen by 1.52% to $3,891 in the last 24 hours, while solana climbed by 2.15% to $186.

At the same time, institutional investors appear to be adjusting their positions. BlackRock reportedly reduced its Bitcoin exposure during the recent downturn and increased holdings in Ethereum. This supports the idea of a possible shift in market preference toward altcoins.

Early Signs of Altcoin Rotation Seen Across the Market

Analysts are watching for signs of an “alt season,” which refers to a period when altcoins outperform Bitcoin. A continued rise in the ETH/BTC ratio is often one of the earliest indicators of this market rotation.

Solana has also shown renewed buying interest, suggesting that it may be part of the broader trend identified by Bollinger. Both Ethereum and Solana have reacted positively to recent market activity, while Bitcoin stays flat.

This rotation is drawing attention from both traders and institutions who may see more upside potential in altcoins during Bitcoin’s slower phase. The current setup may become clearer if ETH and SOL confirm their “W” bottom formations in the coming sessions.