Bitcoin Analysis Shows Breakout Potential Towards IDR1.64 Billion, Here’s the Challenge!

Updated

May 9, 2025

Gambar Bitcoin Analysis Shows Breakout Potential Towards IDR1.64 Billion, Here’s the Challenge!

Jakarta, Pintu News – Bitcoin is showing significant technical strength on the 4-hour chart, with the price attempting to break through an important resistance level around Rp1.61 billion (US$98,000). This move signals the potential end of a prolonged period of volatility and selling pressure. However, major challenges remain, especially in breaking the psychological barrier at Rp1.65 billion (US$100,000).

4-Hour Power Graph and Positive Indicators

$BTC beautiful 4H strength as price attempts to break range highs. Stronger than I anticipated https://t.co/Vs0GL4z7L5 pic.twitter.com/qnwvAZQCVL
— Cheds Trading (@BigCheds) May 7, 2025

Leading technical analyst Big Cheds highlighted Bitcoin’s strength on the 4-hour chart, calling it “beautiful strength” as BTC tests the upper limit of its trading range. BTC’s price is currently above its 200-period simple moving average (SMA) at Rp1.45 billion (US$88,387) and its 200-period exponential moving average (EMA) at Rp1.49 billion (US$90,723), indicating the bullish structure that has developed since mid-April.

Trading volumes also increased during the latest breakout attempt, indicating renewed demand coming into the market. However, the Rp1.61 billion to Rp1.65 billion (US$98,000-US$100,000) area has historically triggered selling interest, so a firm daily close above Rp1.65 billion will be crucial to confirm a true breakout.

Also Read: Can Gaming PCs be Used to Mine Bitcoin (BTC)? Here are the Facts in 2025

Psychological Resistance Challenge at IDR1.65 Billion

Despite the technical strength shown, Bitcoin still faces a major challenge in breaking through the psychological resistance level at Rp1.65 billion (US$100,000). This level has been a significant barrier in recent weeks, with BTC prices failing to maintain a position above it despite strong price action.

If BTC manages to break and close above Rp1.65 billion, it could pave the way for a stronger rally and renew market confidence. However, a drop below the Rp1.48 billion to Rp1.49 billion (US$90,000-US$92,000) support zone could threaten the current structure and potentially confirm the bearish momentum.

Accumulation by Large Investors and Its Impact

Data from Santiment shows that large wallets holding between 10 to 10,000 BTC have accumulated over 81,000 BTC in the past six weeks. This accumulation shows the growing confidence of large investors in the potential upside of BTC prices.

However, despite this accumulation, the market remains in limbo, with investors waiting for confirmation of a breakout above IDR1.65 billion to solidify the bullish trend. Conversely, failure to break this level may lead to further consolidation or even price correction.

Conclusion

Bitcoin is showing promising technical strength, with a potential breakout towards Rp1.64 billion (US$100,000). However, psychological resistance at that level remains a key challenge. Investors and traders are advised to monitor price movements closely, considering technical indicators and market sentiment before making investment decisions.

Also Read: Robert Kiyosaki Highlights Potential Market Crisis, Calls Bitcoin (BTC) Superior to Gold

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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. Crypto trading activities are subject to 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.

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