The leading cryptocurrency Bitcoin (BTC) made a name for itself with its new record of $111,000 just a few weeks ago, but then experienced a decline. The fact that this decline has come very close to the critical level of $100,000 has increased concerns that the correction could deepen even further. At this point, John Bollinger, a well-known analyst and inventor of Bollinger Bands, warned that the bullish momentum in Bitcoin was weakening and further pullbacks could occur. John Bollinger stated in his post from his X account that a “Three Peaks Push” pattern has formed on the Bitcoin chart. A picture perfect 'Three Pushes to a High' Bollinger Band Pattern marked the end of this rally phase for $BTCUSD. https://t.co/KZ3GWr7a2o — John Bollinger (@bbands) June 4, 2025 This pattern occurs when the Bitcoin price reaches the top of the Bollinger Band three times in a row but fails to move higher. Noting that this pattern has occurred, the analyst said that the pattern means that Bitcoin could experience further declines and the bullish momentum could reverse before experiencing a strong rise again. Looking at the chart shared by Bollinger, the price of Bitcoin reached levels close to $ 108,000 and tested the upper band three times. However, after these tests, the candles became smaller and the BTC price followed an uptrend instead of making a direct upward movement. This is usually interpreted as a sign that buyers have lost their strength and momentum and that the price needs to cool down a bit to start rising again. *This is not investment advice.