Crypto analyst Coinvo has revealed that has just hit a 15-year trendline following its latest crash to around $70,000. He declared this a buying opportunity, noting that the trendline has historically held on four prior occasions in past cycles. 

Bitcoin Price Hits 15-Year Trendline Against Gold

In an , Coinvo stated that the Bitcoin price has hit the same RSI trendline on its gold chart as in 2011, 2015, 2019, and 2022. He further noted that this development has historically created a buying opportunity, as when this happens. He urged market participants not to miss this as it is the “biggest opportunity” they have ever had. 

His statement comes as the Bitcoin price crashed to a new yearly low at around $70,000, with the leading crypto asset now down over 19% year-to-date (YTD). Based on Coinvo’s analysis, this may mark the bottom for BTC despite concerns that the crypto market may be entering a deep .

In another , the analyst stated that the Bitcoin price is set to repeat the entire 2023 rally. He noted that the same pattern as in 2023 is playing out now, with BTC hitting the 200-day EMA, which marked a bear-market bottom back then by flipping into support. Coinvo added that most people are too focused on the bearish noise, but urged market participants not to let it obscure the truth, as Bitcoin is going higher. 

However, crypto analyst that the Bitcoin price could still drop lower, having crashed below its April 2025 low. He noted that in the , when BTC fell below the 100-week SMA, it crashed straight to the 200-week SMA before any relief bounce occurred. 

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

Veteran trader an accompanying chart showing that the Bitcoin price could still drop to as low as $63,000. This came as he noted that the nature of , with eight consecutive days of lower lows and highs, indicates campaign selling rather than retail liquidation. 

He noted that he has observed this pattern several times and that it is difficult to determine when it ends. Crypto analyst potential bear-market scenarios for BTC. He stated that an 80% drawdown from the current could put the Bitcoin price at $25,000. Furthermore, a drop to the 200-week MA and current realized price could mean a crash to between $50,000 and $60,000. Meanwhile, a crash to the previous cycle’s ATH could mean that $70,000 is the bottom. 

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At the time of writing, the Bitcoin price is trading at around $70,700, down over 7% in the last 24 hours, according to from CoinMarketCap.