Bitcoin Price Just Hit A 15-Year Trendline After The Crash, What This Means

Crypto analyst Coinvo has revealed that the Bitcoin price has simply hit a 15-year trendline following its newest crash to round $70,000. He declared this a shopping for alternative, noting that the trendline has traditionally held on 4 prior events in previous cycles. 

Bitcoin Price Hits 15-Year Trendline Against Gold

In an X post, Coinvo said that the Bitcoin worth has hit the identical RSI trendline on its gold chart as in 2011, 2015, 2019, and 2022. He additional famous that this improvement has traditionally created a shopping for alternative, as BTC has consistently outperformed gold when this occurs. He urged market members to not miss this as it’s the “greatest alternative” they’ve ever had. 

His assertion comes because the Bitcoin worth crashed to a brand new yearly low at round $70,000, with the main crypto asset now down over 19% year-to-date (YTD). Based on Coinvo’s evaluation, this will likely mark the underside for BTC regardless of considerations that the crypto market could also be coming into a deep bear market.

In one other X post, the analyst said that the Bitcoin worth is about to repeat your complete 2023 rally. He famous that the identical sample as in 2023 is enjoying out now, with BTC hitting the 200-day EMA, which marked a bear-market backside again then by flipping into assist. Coinvo added that most individuals are too targeted on the bearish noise, however urged market members to not let it obscure the reality, as Bitcoin goes greater. 

However, crypto analyst Benjamin Cowen has suggested that the Bitcoin worth may nonetheless drop decrease, having crashed under its April 2025 low. He famous that within the previous cycles, when BTC fell under the 100-week SMA, it crashed straight to the 200-week SMA earlier than any aid bounce occurred. 

BTC Could Still Crash To As Low As $63,000

Veteran dealer Peter Brandt shared an accompanying chart exhibiting that the Bitcoin worth may nonetheless drop to as little as $63,000. This got here as he famous that the character of BTC’s decline, with eight consecutive days of decrease lows and highs, signifies marketing campaign promoting relatively than retail liquidation. 

He famous that he has noticed this sample a number of instances and that it’s troublesome to find out when it ends. Crypto analyst PlanB highlighted potential bear-market eventualities for BTC. He said that an 80% drawdown from the present all-time high (ATH) may put the Bitcoin worth at $25,000. Furthermore, a drop to the 200-week MA and present realized worth may imply a crash to between $50,000 and $60,000. Meanwhile, a crash to the earlier cycle’s ATH may imply that $70,000 is the underside. 

Related Reading: Here’s What To Expect If The Bitcoin Price Maintains Support Above $74,400

At the time of writing, the Bitcoin worth is buying and selling at round $70,700, down over 7% within the final 24 hours, in response to data from CoinMarketCap.