Trader Says “Pay Attention!” 🧐 Is Crypto Back?

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Right then. Old Man Bollinger – yes, the one who invented those wiggly lines everyone pretends to understand – has been peering at charts again. He says Ethereum (ETH) and Solana (SOL) are starting to look a bit like… well, a letter. A ‘W’, specifically. Apparently, that’s good. Or it might be. It depends. And on the alignment of the planets, probably. “Gonna be time to pay attention soon, I think,” he muttered into the digital ether. A pronouncement of such gravity it almost caused a ripple in the price of tea.☕

Concerning the Shape of Things (and Letters)

Now, this ‘W’ bottom, you see, is a pattern. A pattern that, according to people who spend their lives looking at patterns, suggests things might stop going *down* for a bit. It’s formed of two dips – the bottom bits of the ‘W’ – and a little bump in the middle. Profound, isn’t it? 🤯 The thinking is the second dip has more buyers, which is usually a sign someone, somewhere, is clutching onto a glimmer of hope. Which, let’s be honest, is a rare commodity in the world of cryptocurrency.

He pointed out a similar ‘W’ forming on the Bitcoin chart a while back, and it went up! By a respectable 50%, no less. Proof that charts can, occasionally, predict things. Or that correlation doesn’t equal causation. It’s always one of the two.

Classic Bollinger Band W bottom setting up in $BTCUSD. Sill needs confirmation.
Remember: The fraudsters are legion. I will never ask you for anything. #BollingerBands #btc

– John Bollinger (@bbands) April 10, 2025

However, it’s worth noting that Mr. Bollinger recently declared a non-W-bottom situation for Bitcoin, which rather dampened everyone’s spirits. Apparently, sometimes ‘W’s aren’t actually ‘W’s. Which, frankly, is upsetting for those of us who like tidy alphabetical patterns. 🤨

Has the Falling Stopped? Maybe.

Ethereum and Solana had a bit of a tumble earlier this month, dragged down by the usual suspects: global trade grumbles (US vs China, naturally), and banks behaving… curiously. Apparently, some lending institutions had been a bit too enthusiastic with their loans. Who knew? 🤷‍♀️

Ethereum is currently nursing a 21.3% wound from its peak price, while Solana is looking at a rather more dramatic 37% drop. Ouch. But, *if* Bollinger’s right (a big ‘if’, mind you) these tokens might be gearing up for a bit of a bounce. Or they might not. The market is a fickle beast. It’s best not to get your hopes up. Unless you really like disappointment.

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2025-10-19 11:19