Bitcoin SV price exceeded $100.

• BSV broke through the weekly resistance zone.
• If it can stay above $102 this week, a move towards $150 will be more likely.

Bitcoin SV (BSV) recorded a huge rally last week. It was trading at $44 on December 11 and rebounded to $108 on December 29. This move measured 145.8%. Here, the weekly resistance zone also collapsed.

AMBCrypto has seen a slight decrease in open interest for the BSV contract over the past few days. This means that bullish sentiment has weakened slightly. Could we see a bigger retracement of this?

The $100 level was not just psychological resistance.

Source: BSV/USDT on TradingView

In the daily chart above, we can see that the market structure for BSV is firmly bullish. RSI is well above 70, reflecting the strength of momentum over the past week. OBV also rose significantly to highlight buying pressure.

The area from $91.5 to $102.1 is highlighted in red as it is a bearish order block on the weekly time frame. Plus, $100 is psychologically important. So a move to $108 is important.

If the bulls can defend the $100 level and push the price back above $108, it means the next upward move has begun. The next targets are the 23.6% Fibonacci extension level at $123 and the 61.8% level at $147.

A decrease in open interest can be a warning sign.

Source: Coin Analysis

The open interest chart is a good indicator of market sentiment. Despite strong resistance near $110 over the past three days, the BSV price has been slowly rising northward. However, the OI has been rejected since December 30th.

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This suggests that there is some sentiment favoring the bears in the near term. Participants were not willing to bet on further price increases. Spot CVD also saw a decline.

Therefore, it seems likely that a reversal from the weekly area of ​​interest of $91.5 to $102 will occur in the coming days. This could be followed by another rise above $123.

Disclaimer: The information presented does not constitute financial, investment, trading or any other type of advice and is solely the opinion of the author.