The price trend of Bitcoin in 2024 and 2025 exhibits a similar pattern to 2023. Observing the Bitcoin charts on Coinbase and Binance reveals that the current trend of BTC is remarkably consistent with the key patterns that emerged in 2023. This consolidation breakout pattern usually indicates a rapid price increase, and a review of historical data paints a possible future blueprint.
Similar pattern between 2024 and 2023
Whether on Coinbase or Binance charts, Bitcoin has undergone a prolonged consolidation, forming a clear accumulation range. In 2023, Bitcoin broke through the critical resistance of $36,000, followed by a rapid price increase; in 2024, BTC similarly completed a comparable breakout around $90,000. These key price levels became hotspots for market reactions, marking a surge in buying activity.
In the Coinbase chart, after BTC broke the upper limit near $90,500, the price quickly climbed, and this trend synchronized with Binance's chart, reflecting the same market sentiment and buying momentum. This indicates that Bitcoin may be on the verge of another significant surge similar to that of 2023.
$150,000 target
If this pattern continues, Bitcoin is expected to break its historical high in 2025, potentially reaching $150,000. The achievement of this goal relies on continued buying pressure and positive market sentiment, especially in the context of improving global macroeconomic conditions. This increase in Bitcoin may also become a major driving force in the cryptocurrency market.
Key support and resistance for open interest
The heat map of Bitcoin's open interest (OI) provides important clues about price fluctuations. The Binance platform shows dense trading activity in the $95,250 and $94,450 regions. These price ranges not only played a critical role in the last week of December, becoming the focus of support and resistance, but also signified the market's consensus on these price levels.
The oscillation between these key price levels, especially after a sharp decline in OI, indicates that the market is concentrating its efforts to respond to these levels. If BTC can break through these important support and resistance levels, the price is expected to move towards the $150,000 target.
OBV Indicator - The relationship between volume and price increase
The weekly OBV (On-Balance Volume) chart for Bitcoin is similar to the trend at the end of 2020. In 2020, when Bitcoin was around $20,000, the sharp rise in OBV preceded the rapid increase in price. This indicates that the accumulation of volume is typically a precursor to price increases.
The current OBV trend has once again broken through a key channel, similar to the situation in 2020. When OBV reaches the upper limit, it usually signifies increased buying pressure in the market, closely related to BTC's price movement. If this trend continues, BTC may break through the $150,000 mark in 2025, setting a new historical high.
A short-term top may exist, but long-term bullish sentiment is strong
Although the OBV chart indicates a potential short-term top, especially near the $95,000 area, historical experience suggests that this will not hinder Bitcoin's long-term bullish trend. If OBV continues to rise and breaks existing levels, BTC is likely to welcome a new round of price surges, pushing it towards the $150,000 target. Therefore, while short-term fluctuations and pullbacks may occur, the future outlook remains bright for long-term holders.
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