Bitcoin has been trading around the low $70,000 region in recent sessions, and the past 24 hours have been characterized by another 3.3% drop. Although its current positioning keeps it comfortably above the $60,000 level for now, the margin is no longer wide enough to ignore downside risks.
The weekly candlestick chart shared by the analyst shows how previous breakdowns from similar structures have led to price crashes. However, it is important to note that Bitcoin has not lost the $60,000 price level this cycle, with the early February crash finding a bottom around $63,000.
The broader structure becomes clearer when looking at the long-term trendline drawn across multiple Bitcoin cycles. The trendline, which is drawn on the weekly candlestick chart from 2018 through to a projected 2028, connects the deepest cycle lows that formed during extended bearish price action.
In late 2018, Bitcoin topped out, collapsed, and fell to the trendline in 2020 before entering a prolonged accumulation phase near the lows. It then finally surged into the 2021 cycle top. The same structure repeated in the 2022 bear market: Bitcoin crashed from its peak, returned to the macro trendline in 2023, accumulated, and launched into a new cycle that carried it to $126,080 in October 2025.
Featured image from Pexels, chart from TradingView
