The side-by-side comparison of Bitcoin usd price action on Coinbase and Binance from 2024 to 2025 reveals striking similarities to patterns observed in 2023.
In both charts, Bitcoin experienced a sharp breakout from a consolidation phase. It was marked by a pronounced accumulation pattern within a defined trading range.
The $90K level for 2024 and $36K level for 2023 highlighted areas of significant buying activity. It propelled prices upward beyond previous resistance levels.
In the Coinbase chart, after a lengthy period of sideways movement within a channel, BTC decisively breached the upper boundary around the $90,500 mark.
This move was mirrored on the Binance chart. After similar consolidation, prices surged past the same price level, echoing the momentum seen on Coinbase.
This repeated pattern suggested that Bitcoin could be poised for another substantial rally. It could be following similar conditions as it did in 2023.
If the trend follows the historical precedent, BTC could potentially ascend towards $150,000 by 2025.
This would require sustained buying pressure and positive market sentiment, supporting a climb of this magnitude, especially if macroeconomic conditions align favorably.
Bitcoin USD Rising Open Interest
The heatmap of Bitcoin’s open interest (OI) on Binance highlighted critical zones around $95,250 and $94,450, where significant trading activity coalesced.
These levels emerged as pivotal over the last week of December, indicating their role as major support and resistance thresholds.
This pattern was particularly noticeable following the abrupt drop in OI that occurred just before the consolidation between these levels, suggesting a gathering of consensus around these prices.
The concentration of OI at these junctures implied a robust market response. Either bolstering BTC’s price upon successful support defense or capping potential rallies at these resistance markers.
The frequent touches at $95.25K followed by retractions accentuated its role as a temporary ceiling for price. Whereas $94.4K acted as a floor, cushioning further declines and fostering rebounds.
If these levels are decisively breached with sustained trading volume, it could signal a stronger move towards the much-anticipated $150K target.
This would require overcoming these established resistance points, transforming them into new supports in a continued bullish scenario.
Bitcoin USD Weekly OBV
Bitcoin Weekly On-Balance Volume chart shows that the OBV was echoing a trend last seen in late 2020. The same happened when Bitcoin was priced around $20,000.
During this period, a sharp upward spike in OBV preceded significant price rallies, suggesting a correlation between volume accumulation and subsequent price increases.
In the current setup, the OBV has breached key levels within its channel, mirroring movements from that pivotal 2020 period.
This was visible where the OBV hits highs within the upper channel lines, denoting similar peaks and subsequent retracements.
As of late December 2024, the OBV approached these upper boundaries again, indicating increased trading volume and potential buying pressure.
If this trend holds true to its historical precedent, the likelihood of Bitcoin usd achieving a new high nof $150K becomes plausible.
The chart points to potential short-term tops around these high OBV levels, specifically at points where the OBV intersects with the top channel line, currently observed near the $95,000 range.
This pattern suggests that if the OBV continues its uptrend and breaks past current levels, BTC could see significant bullish momentum, possibly propelling it towards, or even beyond, the $150K threshold as 2025 progresses.
