A cryptoanalyst has shared more insight into Bitcoin (BTC) price action using a rare Japanese chart pattern called the Renko Mari-Ashi. The graph shows that it is Bitcoin price formed a double bottom and could be on the verge of a major breakthrough. In addition, he highlighted the points where a double bottom was formed, revealing the area where BTC is likely to start rising again in this cycle.
Bitcoin Double Bottom Formation on Renko Mari-Ashi Chart
Geometric, a pseudonymous market analyst on X, he said April 28 that the Renko Mari-Ashi chart signals another major bottom formation for Bitcoin. He described this chart as a special Japanese chart that focuses solely on the price movement of the cryptocurrency and not on the timing of its actions.
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He said this chart was designed for filter out market noise and highlight major trends and reversals in cryptocurrency. Moreover, unlike traditional candlesticks, which create a new candle at each interval, bricks on a Renko Mari-Ashi chart are formed only when the price moves by a certain amount, which can last for minutes, hours or days.
Looking at Bitcoin price action in this rare chart, Geometric traces the cryptocurrency’s movement from 2018 to the present, highlighting every major bull market and bear market along the way. The chart shows that Bitcoin has now completed the second double bottom formation and could be preparing for a major reversal.
A similar Double Bottom pattern first appeared around September 2024, a few weeks before BTC historic jump to the psychological level of $100,000. Before that, Bitcoin formed a Double topsetting the stage for his Double Bottom. After that price floor was confirmed, BTC exploded above $100,000 in 2025, forming another double top.
Following the block path of the Renko Mari-Ashi chart, Bitcoin crashed below $75,000 around May after reaching $100,000. This massive decline preceded the price reversal that led to the cryptocurrency’s historic decline all-time high above $126,000 in October 2025. After 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 is BTC’s bottom and when does the uptrend begin
Renko Mari-Ashi officially sets BTC’s current double bottom in the $60,000-$65,000 range. The first bottom occurred in February 2026 when BTC crashed towards $60,000while the second bottom appeared near $65,000 after a bullish forgery.
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With this Double Bottom now confirmed, Geometric suggests that BTC’s bear market may have ended, and the price has returned to green. He wrote on the chart that Bitcoin price is now in a bullish breakout zone, signaling potential strong rise ahead. If the price action plays out like it did in 2024, BTC could be headed for another big rally to new highs this cycle.
Featured image created using Dall.E, chart from Tradingview.com
