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A crypto analyst says Bitcoin’s price action is forming a second Double Bottom on a rare Japanese chart type known as Renko Mari-Ashi, suggesting the market may be nearing a major reversal. The analyst also pointed to the approximate price zone where the pattern’s second bottom formed, indicating where BTC could start rising again in the current cycle.
On April 28, a pseudonymous market analyst on X, Geometric, said the Renko Mari-Ashi chart is signaling another major bottom formation for Bitcoin. Geometric described the chart as a Japanese price chart that focuses on price movement rather than timing. He tracks Bitcoin’s movements from 2018 to the present, highlighting major bull runs and bear markets.
According to Geometric, Bitcoin has now completed a second Double Bottom formation and may be preparing for a larger reversal.
Geometric said the Renko Mari-Ashi chart shows Bitcoin falling below $75,000 around May after reaching $100,000. He linked this decline to the subsequent reversal that culminated in Bitcoin’s historic all-time high above $126,000 in October 2025.
After that peak, Bitcoin entered its current bear market decline, which Geometric says has now resulted in the formation of a new Double Bottom. He described the new pattern as similar to the Double Bottom that emerged in 2024.
The Renko Mari-Ashi chart places Bitcoin’s current Double Bottom in the $60,000 to $65,000 range.
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