Bitcoin appears to be going through a longer-term consolidation period after recently testing the important resistance level of Rp1.74 billion (US$105,700). The cryptocurrency’s intraday price has been hovering between Rp1.71 billion (US$103,735) and Rp1.74 billion (US$105,706). This narrow range indicates a period of low volatility, as bulls attempt to push above this key psychological level. Bitcoin’s price action is being watched intently by analysts who are expecting a massive breakout momentum should the resistance be broken.
The limiting price action indicates an accumulation of selling pressure near the Rp1.89 billion line. This level still represents a major upside challenge for Bitcoin. A determined break above it would be the first indication that the uptrend is reestablished. If this resistance can not be broken, the price could fall significantly. This would set off a retest of the closest support level, currently estimated at approximately Rp1.70 billion (US$103,000).
Bitcoin’s price has come under enormous speculation during the month of May, 2025. Market observers are watching its downward trajectory and upcoming headwinds with great interest. The new priority is still on trying to regain that positive trajectory back above that $105,700 barrier. Doing once would set them up to do even more in the future.
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With the price currently hovering around that Rp1.74 billion mark, this area is critical for Bitcoin’s near-term direction. A major breakout would not only invite more long-term investors but potentially propel Bitcoin to new all-time highs. Conversely, a much wider rejection at this level could see the market traded sideways or enter a deeper correction.
We remind market participants to trade carefully and do your own research before proceeding with any trades. The crypto market is extremely volatile, and therefore the price can swing either way.
