A cryptocurrency analyst is using a unique Japanese charting technique called Renko Mari-Ashi to analyze Bitcoin’s price movements. This chart suggests Bitcoin has formed a “Double Bottom” pattern, which often signals a significant price increase. The analysis also pinpoints the specific price levels where this pattern developed, indicating where Bitcoin might begin to climb again in the current market cycle.
Bitcoin Double Bottom Formation On The Renko Mari-Ashi Chart
On April 28th, a market analyst known as Geometric posted on X that the Renko Mari-Ashi chart suggests Bitcoin is nearing a significant low point. This chart, a unique type of Japanese chart, tracks only price changes, ignoring the timing of those changes.
This chart is meant to cut through the daily ups and downs of the market and make it easier to spot significant changes in a cryptocurrency’s price. It’s different from standard candlestick charts, which update at fixed intervals. Instead, this chart – called a Renko Mari-Ashi chart – only creates a new ‘brick’ when the price moves by a certain amount, meaning each brick can represent minutes, hours, or even days.
This unique chart tracks Bitcoin’s price from 2018 to today, clearly showing all the significant periods of growth and decline. Currently, the chart indicates Bitcoin has formed a second ‘Double Bottom’ pattern, suggesting a potential major price increase is coming.
A similar price pattern, called a Double Bottom, first appeared in September 2024, just before Bitcoin’s price dramatically increased to $100,000. Before this, Bitcoin had reached a peak (a Double Top) and then fell, creating the conditions for the Double Bottom to form. After that price low was confirmed, Bitcoin’s price soared past $100,000 in 2025, and it then formed another peak (Double Top).
After briefly reaching $100,000, Bitcoin fell below $75,000 around May. This significant drop was followed by a price recovery, ultimately leading to a record high above $126,000 in October 2025. Since then, Bitcoin has been in a downturn. According to Geometric, this decline has now created a ‘Double Bottom’ pattern, a similar pattern that appeared in 2024.
Where BTC Bottom Stands And When The Uptrend Begins
According to the Renko Mari-Ashi indicator, Bitcoin is currently showing a Double Bottom pattern between $60,000 and $65,000. This pattern formed after the price initially dropped to around $60,000 in February 2026, and then found support near $65,000 following a temporary false breakout.
Following the confirmation of a ‘Double Bottom’ pattern, analyst Geometric believes Bitcoin’s recent downturn might be finished, and prices are now rising. He points out that the price is entering a bullish breakout, which could lead to a significant increase. If current trends mirror those seen earlier in 2024, Bitcoin could experience another major bull run, potentially reaching new record highs this cycle.
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2026-05-01 21:58