Bitcoin (BTC) was eyeing $81,000 at Sunday’s weekly close as traders saw the next retest of support.
Key points:
- Bitcoin saved $80,000 over the weekend, but traders are waiting for a dip to retest a familiar chart feature.
- A continuation higher remains the general consensus for what will happen after that.
- US CPI data is due to be released, and Bitcoin is already “accounting” for the result.
Bitcoin Traders: Next Retest Below $80,000
Data from TradingView showed the price of BTC rising after a mostly flat weekend, avoiding a retracement below $80,000.
BTC/USD hourly chart. Source: Cointelegraph/TradingView
After a midweek trip to almost $83,000 failed to maintainhowever, traders saw the need for BTC/USD to retest support — something they have now repeated.
He was of special interest bull market support band — two moving averages just below the $80,000 mark.
“On the low timeframes, after a bounce in the resistance range of the high timeframe highlighted in purple, I believe the most likely outcome is a short-term pullback towards the 2D bull market support zone, which has been a strong reversal zone over the past few months,” wrote analyst account Cryptic Trades alongside the chart in its latest post on X.
“As long as price continues to hold above the support range and the broader support range of the high timeframe highlighted in blue around $75K, which is in line with the April 2025 low formation, I believe the most likely outcome remains bullish.”
BTC/USD one day chart. Source: Cryptic Trades/X
Trader Daan Crypto Trades agreed, calling the initial move above the support bar “not a clean breakout.”
“I’d like to see a move to at least clear that sticky area around the low $80k range and hold it there for a week or two,” he said told X followers.
BTC/USD weekly chart. Source: Daan Crypto Trades/X
CPI is already “factored” into BTC
Ahead of fresh US inflation data next week, trader Killa warned of a return of distractions to boost the BTC price.
Related: Bitcoin Bollinger Bands are pushing a key breakout as the creator acts on a positive signal
The consumer price index (CPI) for April, due out on Tuesday, was meant to show the ongoing impact of the US-Iran war and rising oil prices on the economy.
“It’s in the price,” Killa wrote on X.
“BTC has rallied after the last two CPI releases. However, if we watch the CPI price action for 2025, we could see the bigger players start to reduce risks in the counter-story of the event.”
BTC/USD chart with CPI releases. Source: Killa/X
Support levels to watch also included the area around the bull market support band, with $74,000 on the radar should it fail.
“I would watch for liquidity swings around this pivot to signal the next move,” Killa added.
