#TradingPsychology John Bollinger, creator of the volatility metric of the Bollinger Bands, shared what potentially seems like good news for Bitcoin bulls.

Bitcoin is showing a familiar bottom behavior at current prices, according to one of its most well-known leading indicators.

The %b metric of the Bollinger Bands anticipates the recovery of BTC's price,

Bitcoin may already be establishing a long-term bottom, according to the latest data from the Bollinger Bands.

Analyzing weekly time frames, Bollinger drew attention to one of his proprietary indicators, known as "%b", which provides more clues about market trend changes.

The %b indicator measures an asset's closing price in relation to the position of the Bollinger band, using the standard deviation around a 20-period simple moving average (SMA).

One of its features is the formation of a bottom in "W", where an initial minimum below zero is followed by a new higher minimum, something that may be at play for the BTC/USD pair.