A crypto analyst has shared more insights into the Bitcoin (BTC) price action using a rare Japanese chart pattern called the Renko Mari-Ashi. The chart shows that the Bitcoin price has formed a Double Bottom and could be on the verge of a major breakout. Additionally, it has highlighted the points where the Double Bottom was formed, revealing the area where BTC is likely to start rising again in this cycle.Â
Bitcoin Double Bottom Formation On The Renko Mari-Ashi Chart
Geometric, a pseudonymous market analyst on X, said on April 28 that the Renko Mari-Ashi chart is signaling another major bottom formation for Bitcoin. He described this chart as a special Japanese chart that focuses solely on a cryptocurrency’s price movement, not the timing of its actions.Â
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He said that this chart was designed to filter out market noise and highlight major trends and reversals in a cryptocurrency. Moreover, unlike traditional candlestick charts, which create a new candle at each interval, the bricks on the Renko Mari-Ashi chart are formed only when the price moves by a specific amount, which can take minutes, hours, or days.Â
Looking at the Bitcoin price action on this rare chart, Geometric tracks the cryptocurrency’s movements from 2018 to the 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 gearing up for a major reversal.Â
The first time a similar Double Bottom pattern appeared was around September 2024, a few weeks before BTC’s historic surge to the $100,000 psychological level. Prior to this, Bitcoin had formed a Double Top, setting the stage for its Double Bottom. Once that price floor was confirmed, BTC exploded above $100,000 in 2025, forming another Double Top pattern.Â
Following the trajectory of the Renko Mari-Ashi chart blocks, Bitcoin crashed below $75,000 around May after hitting $100,000. This massive drop preceded the price reversal that led to the cryptocurrency’s historic all-time high above $126,000 in October 2025. Once this ultimate top was reached, BTC started 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 BTC Bottom Stands And When The Uptrend Begins
The Renko Mari-Ashi officially places BTC’s current Double Bottom around the $60,000 to $65,000 range. The first bottom formed in February 2026 when BTC crashed down toward $60,000, while the second price floor emerged near $65,000 following a bullish fakeout.Â
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With this Double Bottom now confirmed, Geometric suggests that BTC’s bear market may be over, and price action has returned to the green. He wrote on the chart that the Bitcoin price is now in a bullish breakout zone, signaling a potential strong rally ahead. If price action plays out as it did in 2024, BTC could be headed for another major bull run to new highs this cycle.Â
Featured image created with Dall.E, chart from Tradingview.com
