Bitcoin Strengthens Past Rp1.41 Billion: Opportunity for Further Strengthening or Price Correction?

Jakarta, Pintu News – Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- price has shown another positive movement in the cryptocurrency market. In recent times, BTC managed to break through an important resistance zone at around Rp1.35 billion ($80,000 equivalent), opening up opportunities for a stronger bullish movement.

This increase occurred after Bitcoin formed a strong support level around Rp1.26 billion ($74,500 equivalent). From that point, the price of Bitcoin began to gradually strengthen, passing through several resistance areas such as Rp1.33 billion ($78,500 equivalent) and Rp1.35 billion ($80,000 equivalent).

Break of Resistance Level Strengthens Bitcoin’s Position

One important factor in this rise was Bitcoin’s success in breaking the bearish trend line at around Rp1.34 billion ($78,800 equivalent). This shows that there is significant buying power from crypto investors.

In fact, BTC also managed to break through the next resistance at around Rp1.38 billion (equivalent to $82,500) and print a new high of Rp1.40 billion (equivalent to $83,548). After reaching this level, Bitcoin price is currently in a consolidation phase to stabilize its movement.

BTC is now trading above Rp1.36 billion ($80,500 equivalent) and is also above the 100-hour simple moving average (SMA), signaling that the bullish trend is still dominant.

Also Read: Solana’s Whale Movement and Selling Pressure: What is the Impact on Crucial Support Levels?

Next Resistance Level and Opportunity for Price Strengthening

Currently, the closest resistance for Bitcoin is around Rp1.40 billion ($83,200 equivalent) to Rp1.41 billion ($83,500 equivalent). If the price of BTC manages to break through and stay above this area, then the opportunity to continue strengthening is getting bigger.

The next important resistance is at around Rp1.43 billion ($84,500 equivalent). If Bitcoin price is able to break this resistance, the next upside target is expected to be Rp1.45 billion ($85,800 equivalent) to Rp1.49 billion ($88,000 equivalent) in the short term.

Risk of Correction in Bitcoin Price if it Fails to Break Resistance

Although the opportunity for an increase is still open, the potential for price correction still needs to be considered by crypto market players. If BTC fails to break the Rp1.41 billion resistance, then a price correction could occur in the near future.

The initial support that could be a price defense point is at around IDR1.37 billion (equivalent to $81,400). Meanwhile, the next strong support is at around IDR1.36 billion ($80,500 equivalent).

If selling pressure continues to increase, the next support is around IDR1.35 billion ($79,500 equivalent), which is also close to the 50% retracement level of the previous upward movement. In extreme conditions, Bitcoin could even drop towards the psychological support at Rp1.27 billion (equivalent to $75,000).

Technical Indicators Show Positive Momentum

Based on technical analysis, the Moving Average Convergence Divergence (MACD) indicator on the hourly chart shows that the bullish momentum is still strong. This shows the dominance of buying power in the crypto market.

Meanwhile, the Relative Strength Index (RSI) indicator is also above the 50 level, signaling that market sentiment towards Bitcoin is still positive. However, investors are still advised to pay attention to price movements at important resistance and support areas.

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Bitcoin (BTC) price is showing strength again in the cryptocurrency market after breaking through several important resistance levels. Currently, the opportunity to continue strengthening towards higher levels is still wide open, especially if BTC is able to pass the resistance at Rp1.41 billion.

However, the risk of a price correction remains a concern, especially if selling pressure increases. In a volatile crypto market, discipline and risk management strategies are key for investors.

Read More: Solana Price Moves Up: Potential Strengthening or Correction in April 2025?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Aayush Jindal/NewsBTC. Bitcoin Price Rallies Over 5%, Bulls Eyeing More Gains Above $83,500. Accessed April 11, 2025.
• Featured Image: Generated by AI