Bitcoin Tests Momentum Strength Above Rp1.74 Billion: Analysis and Challenges

Jakarta, Pintu News – Bitcoin (BTC) is currently in a consolidation phase, attempting to break through the resistance level at around Rp1.74 billion (US$105,700) per coin. Intraday price movements show a range between Rp1.71 billion (US$103,735) to Rp1.74 billion (US$105,706), reflecting narrowing volatility as the resistance level is tested. Crypto market analysts are watching to see if the bullish momentum can regain strength to push the price beyond this limit.

Price Dynamics and Critical Levels

Bitcoin’s price movement close to Rp1.74 billion signals significant buying pressure. However, to sustain and surpass this level, strong and consistent trading volume is required. If the price manages to break this resistance with high volume support, it could validate renewed buying interest in the market. Conversely, failure to break this level could lead to a price correction to the next support level.

The nearest support level is estimated to be around IDR1.70 billion (US$103,000). A drop below this level could indicate a weakening of momentum and potential for further declines. Therefore, it is important for investors and traders to monitor price movements and trading volumes closely in the coming sessions.

Also Read: Bitcoin ETFs record sustained gains: IDR15.4 Trillion Net Inflows in a Week

Factors Affecting Momentum

Several external factors could affect Bitcoin’s ability to break through current resistance levels. Global market sentiment, monetary policies from major central banks, as well as regulatory developments related to cryptocurrencies could play an important role. Additionally, inflows and outflows of crypto-based investment products, such as Bitcoin ETFs, could also affect the demand and price of this asset.

On the other hand, technical factors such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators give mixed signals. While some indicators point to a potential continuation of the uptrend, others indicate the possibility of being overbought, which could lead to a price correction in the short term. Therefore, a comprehensive analysis and a cautious approach are necessary in making investment decisions.

Conclusion

Bitcoin is at a critical juncture in its price movement, with the level of Rp1.74 billion (US$105,700) being the main resistance that must be broken to continue the uptrend. Success or failure in breaking this level will be heavily influenced by complex technical and fundamental factors. Investors and market participants are advised to remain vigilant and conduct in-depth analysis before making decisions, given the high volatility and ongoing market uncertainty.

Also Read: Bitcoin Approaches Rp1.74 Billion: Trend Analysis and Challenges May 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. 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.

Reference:

• Wendy McElroy / Bitcoin.com. Bitcoin Price Watch: Can Momentum Reignite Above $105,700? Accessed May 13, 2025.
• Featured Image: Generated by AI