After weeks of silence, John Bollinger—the creator of the Bollinger Bands—has returned to weigh in on Bitcoin’s latest rally.
On June 4, he shared a chart highlighting a classic technical pattern he calls a “Three Pushes to a High.” The pattern appeared as Bitcoin approached the $88,000 mark, signaling a potential pause—or even reversal—in the current bullish trend.
“A picture perfect ‘Three Pushes to a High’ Bollinger Band Pattern marked the end of this rally phase for $BTCUSD,” Bollinger noted on X (formerly Twitter).
A Technical Warning Near the Top?
The “Three Pushes to a High” formation consists of three distinct upward surges, often ending with diminishing momentum. According to Bollinger, this pattern typically shows up when markets are overstretched and nearing exhaustion. While it doesn’t guarantee a top, it frequently aligns with a local peak—especially when paired with parabolic price action.
This time, the signal comes after a nearly two-month Bitcoin climb that has pushed the price into the mid-$80,000 range. The structure suggests buyers may be losing steam, with bulls needing fresh catalysts to sustain the rally.
Pause or Pullback? What Traders Should Watch
The chart shared by Bollinger shows BTC bouncing aggressively within the upper Bollinger Band. The final push, however, stalls near the $88K zone—a move that fits neatly into the three-push sequence.
While the pattern doesn’t confirm a full-blown reversal, it’s often a red flag in overheated markets. Historically, such formations have preceded sharp retracements or consolidation phases. Traders may want to tighten stops or reassess risk exposure in the short term.
Whether Bitcoin’s next move is a cooldown or deeper correction remains uncertain. But Bollinger’s rare public comment suggests a moment of caution is warranted after an extended run-up.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/bitcoin-rally-flashing-caution-bollinger-spots-three-pushes-to-a-high-pattern/