A pseudonymous crypto analyst is flagging a potential turning point for Bitcoin after spotting a classic reversal setup on an uncommon chart type.
On April 28, market analyst “Geometric” posted on X that a Renko Mari-Ashi chart—an uncommon Japanese-style chart that builds “bricks” only when price moves by a set amount, ignoring time—has just formed a Double Bottom for BTC. Because Renko Mari-Ashi filters out time-based noise and emphasizes price moves, Geometric argues the pattern highlights structural trend changes rather than intraday fluctuations.
Why this matters
- Double Bottoms are a textbook reversal pattern: two distinct lows around the same area followed by a breakout, often signaling the end of a downtrend and the start of an uptrend.
- On the Renko Mari-Ashi chart, Geometric traces Bitcoin’s price blocks from 2018 to today, showing the tool captured every major bull run and bear phase—and now appears to be signaling another major bottom.
Historical parallels cited
- Geometric points to a similar Double Bottom in September 2024 that preceded Bitcoin’s push to the psychological $100,000 level.
- According to his read, BTC had previously formed a Double Top, then a Double Bottom that preceded the 2025 surge past $100,000 and a later top above $126,000 in October 2025.
- After topping, BTC plunged below $75,000 in May (post-$100k) before reversing to that all-time high—then entered the current downtrend that, per the Renko Mari-Ashi blocks, has now produced a new Double Bottom.
Where the current bottom sits
Geometric places the new Double Bottom between roughly $60,000 and $65,000:
- First low: February 2026, when BTC dipped toward $60,000.
- Second low: a near-$65,000 floor after what he calls a bullish fakeout.
With that floor confirmed on the Renko Mari-Ashi, Geometric says BTC has moved into a “bullish breakout zone” and that the bear market may be over—suggesting a potential strong rally if this cycle repeats 2024’s trajectory.
A note of caution
Technical patterns on niche charts like Renko Mari-Ashi can offer useful perspective, but they are not guarantees. Patterns should be considered alongside on-chain data, macro conditions, and risk management. Geometric’s read is a bullish signal to watch, not a certainty.
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