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

1 month ago

Crypto expert Coinvo has revealed that the Bitcoin price has conscionable deed a 15-year trendline pursuing its latest clang to astir $70,000. He declared this a buying opportunity, noting that the trendline has historically held connected 4 anterior occasions successful past cycles.

Bitcoin Price Hits 15-Year Trendline Against Gold

In an X post, Coinvo stated that the Bitcoin terms has deed the aforesaid RSI trendline connected its golden illustration arsenic successful 2011, 2015, 2019, and 2022. He further noted that this improvement has historically created a buying opportunity, arsenic BTC has consistently outperformed gold erstwhile this happens. He urged marketplace participants not to miss this arsenic it is the “biggest opportunity” they person ever had.

His connection comes arsenic the Bitcoin terms crashed to a caller yearly debased astatine astir $70,000, with the starring crypto plus present down implicit 19% year-to-date (YTD). Based connected Coinvo’s analysis, this whitethorn people the bottommost for BTC contempt concerns that the crypto marketplace whitethorn beryllium entering a heavy bear market.

In different X post, the expert stated that the Bitcoin terms is acceptable to repetition the full 2023 rally. He noted that the aforesaid signifier arsenic successful 2023 is playing retired now, with BTC hitting the 200-day EMA, which marked a bear-market bottommost backmost past by flipping into support. Coinvo added that astir radical are excessively focused connected the bearish noise, but urged marketplace participants not to fto it obscure the truth, arsenic Bitcoin is going higher.

However, crypto expert Benjamin Cowen has suggested that the Bitcoin terms could inactive driblet lower, having crashed beneath its April 2025 low. He noted that successful the previous cycles, erstwhile BTC fell beneath the 100-week SMA, it crashed consecutive to the 200-week SMA earlier immoderate alleviation bounce occurred.

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

Veteran trader Peter Brandt shared an accompanying illustration showing that the Bitcoin terms could inactive driblet to arsenic debased arsenic $63,000. This came arsenic helium noted that the quality of BTC’s decline, with 8 consecutive days of little lows and highs, indicates run selling alternatively than retail liquidation.

He noted that helium has observed this signifier respective times and that it is hard to find erstwhile it ends. Crypto expert PlanB highlighted imaginable bear-market scenarios for BTC. He stated that an 80% drawdown from the existent all-time precocious (ATH) could enactment the Bitcoin terms astatine $25,000. Furthermore, a driblet to the 200-week MA and existent realized terms could mean a clang to betwixt $50,000 and $60,000. Meanwhile, a clang to the erstwhile cycle’s ATH could mean that $70,000 is the bottom.

At the clip of writing, the Bitcoin terms is trading astatine astir $70,700, down implicit 7% successful the past 24 hours, according to data from CoinMarketCap.