Bitcoin Price Prediction Today January 8, 2025

Bittime - Analysts and traders are currently watching key resistance levels that could determine the direction of Bitcoin prices in the near future. 

Will the Bitcoin price succeed in breaking through this important level or will it experience another correction? Read this article to find out today's Bitcoin price prediction!

Bitcoin Price Prediction Today: Resistance Level $101,165

Le resistance level of $101,165, has been repeatedly tested over the past few weeks, but has not been successful. This level is considered the upper limit of the consolidation area that controls Bitcoin price movements. 

In December, Bitcoin surpassed $101,165 several times, but always fell back due to a lack of momentum. 

Read Also: Investors Target Bitcoin for Long-Term Investment, Here's Why!

Bitcoin Price Prediction Today: Daily Close Price 

Currently, the Bitcoin price is approaching this level again, and the daily close price is an important indicator to confirm the validity of this breakout. 

If Bitcoin is able to close the daily close above $101,165, this could signal the start of a stronger bullish trend, with the next target at around $105,000 or higher. 

Today's Bitcoin price prediction, if the daily close price fails to close above this level it could trigger a price correction towards the previous support level. 

Bitcoin Price Prediction Today: Retest After Breakout

One of the important concepts in technical analysis is the retest after a breakout. Bitcoin price prediction today If it manages to close above $101,165, the next step is to retest that level as new support. 

This retest is very important to ensure that the breakout is valid and valid foundation strong to continue price increases.

If the retest is successful, Bitcoin has the potential to continue its bullish movement with a higher target. Conversely, if it fails to maintain this level, the price could fall back to the previous consolidation area.

Read Also: Why is Bitcoin Cs Down Today? Check out the reasons!

Bitcoin Price Prediction Today: Next Target 

If Bitcoin manages to maintain the breakout, bullish momentum could take the price towards the target of $105,000 or even higher. 

However, failure to maintain this momentum could lead to a deeper correction, with key support at $91,070.

The $91,070 level is a crucial point because it has resisted selling pressure several times before. If this support manages to hold, today's Bitcoin price prediction will most likely try to break through the $101,165 resistance again.

Read Also: Called Vladimir Putin and Jerome Powell, Bitcoin Prices Go Up Immediately!

Bitcoin FAQs

What is Bitcoin?

Bitcoin is the world's first crypto asset and the largest crypto asset by market capitalization. Bitcoin was first created in 2009 by Satoshi Nakamoto, whose true identity until now no one knows.

How many Rupiah is 1 BTC?

Currently, 1 BTC is worth IDR 1,564,323,292 based on the Bittime market. 

1 BTC How much is USD?

Currently, 1 BTC is worth $95,946.51 according to Coinmarketcap. 

How to Buy Crypto with Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Additionally, visit Bittime Blog to get various interesting updates and educational information about the world of crypto. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the world of crypto.

Reference

Blockchain Reporter, Bitcoin’s Bullish Breakout: Key Levels to Watch, accessed January 8, 2024.

Coinmarketcap, Coinmarketcap Bitcoin Currency, accessed January 8, 2024.

Author: IPR