A pseudonymous crypto analyst is pointing to a rare Japanese charting method as evidence that Bitcoin may be setting up for a major reversal.
On April 28, market analyst “Geometric” shared a Renko Mari-Ashi chart on X that, he says, shows Bitcoin has completed a Double Bottom and may be poised for a bullish breakout. The Renko Mari-Ashi is an uncommon variant of Renko-style charts that builds bricks only when price moves by a set amount—ignoring time—to filter out market “noise” and emphasize meaningful trends and reversals rather than every minute-by-minute fluctuation.
Why the chart matters
- Unlike traditional candlesticks that form on each time interval, Renko Mari-Ashi bricks appear only after a price move of a specified size, so patterns like tops and bottoms can stand out more clearly.
- Geometric used this approach to trace Bitcoin’s major cycles from 2018 to today, highlighting where bull runs and bear markets began and ended on this price-only view.
What the chart shows (timeline)
- Around September 2024, a Double Bottom pattern appeared on the Renko Mari-Ashi chart a few weeks before BTC’s dramatic run toward $100,000.
- After topping near $100,000 in 2025 and forming a Double Top, BTC plunged below $75,000 in May. That selloff preceded a renewed rally that produced an all-time high above $126,000 in October 2025.
- Following that ultimate peak, Bitcoin entered the latest bear phase that, according to Geometric’s charting, has now produced a second Double Bottom—this time roughly in the $60,000–$65,000 range.
Current setup and implications
- Geometric pins the first leg of the current Double Bottom to a February 2026 drop toward $60,000, with a second floor near $65,000 after what he calls a bullish fakeout.
- With that Double Bottom confirmed on the Renko Mari-Ashi view, Geometric argues BTC has moved into a bullish breakout zone and that the recent bear market could be over. If price action follows the 2024-2025 playbook, Bitcoin may be positioned for a major bull run toward new highs later in this cycle.
A note on interpretation
- Renko Mari-Ashi highlights price structure differently than time-based charts, which can make patterns easier to spot—but technical patterns are not guarantees. Traders typically combine such signals with other analysis and risk management before making decisions.
In short: on a price-focused Renko Mari-Ashi chart, a veteran observer sees a second Double Bottom for Bitcoin around $60k–$65k and a potential breakout zone that could kick off the next big leg higher—if history and the pattern repeat.
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