A crypto analyst has shared more insights into Bitcoin (BTC) price action using a rare Japanese chart pattern called Renko Mari-Ashi. The graph shows that the The Bitcoin price has formed a double bottom and could be on the verge of a major outbreak. Furthermore, it has highlighted the points where the double bottom formed, revealing the area where BTC is likely to start rising again in this cycle.
Bitcoin double bottom formation on the Renko Mari-Ashi chart
Geometric, a pseudonymous market analyst at X, said on April 28 that the Renko Mari-Ashi chart indicates a new major bottom formation for Bitcoin. He described this chart as a special Japanese chart that focuses solely on the price movement of a cryptocurrency, not the timing of its actions.
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He said that’s what this graph was for filter out market noise and highlight major trends and reversals in a cryptocurrency. Furthermore, unlike traditional candlestick charts, which create a new candle at every interval, the bricks on the Renko Mari-Ashi chart are only formed when the price moves by a certain amount, which could take minutes, hours or days.
Looking at Bitcoin price action on this rare chart, Geometric tracks the cryptocurrency’s movements from 2018 to present, highlighting every major bull run and bear market along the way. The chart shows that Bitcoin has now completed a second Double Bottom formation and could be preparing for a major reversal.
The first time a similar Double Bottom pattern appeared was around September 2024, a few weeks before BTC historic rise to the psychological level of $100,000. Before that, Bitcoin had a Double topwhich sets the stage for his double entendre. Once that price bottom was confirmed, BTC exploded above $100,000 in 2025, creating another Double Top pattern.
Following the trajectory of the Renko Mari-Ashi chart blocks, Bitcoin crashed below $75,000 around May after reaching $100,000. This massive drop preceded the price reversal that led to the cryptocurrency’s historic value all-time high above $126,000 in October 2025. Once this ultimate top was reached, BTC began its current bear market decline, which Geometric says has now led to the formation of a new double bottom, similar to the one that emerged in 2024.
Where the BTC bottom is and when the uptrend starts
The Renko Mari-Ashi officially places BTC’s current Double Bottom around $60,000 to $65,000. The first bottom formed in February 2026 BTC crashed towards $60,000while the second price bottom came near $65,000 after a bullish fakeout.
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Now that this double bottom has been confirmed, Geometric suggests so The BTC bear market may be over and the price action has returned to the green. He wrote on the chart that Bitcoin price is now in a bullish breakout zone, which is a signal a potentially strong rally ahead. If price action plays out like it does in 2024, BTC could be on its way to another major bull run to new highs this cycle.
Featured image created with Dall.E, chart from Tradingview.com