Bitcoin (BTC) eyed $81,000 into Sunday’s weekly close as traders saw a fresh support retest next.
Key points:
- Bitcoin preserves $80,000 over the weekend, but traders are waiting for a dip to retest a familiar chart feature.
- Continuation higher remains the overall consensus for what happens afterward.
- US CPI data is due out, with Bitcoin already “pricing in” the result.
Bitcoin traders: Sub-$80,000 retest next
Data from TradingView showed BTC price action trending higher after a mostly flat weekend, avoiding a return below $80,000.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
After a midweek trip to near $83,000 failed to hold, however, traders saw the need for BTC/USD to retest support — something that they now reiterated.
Of particular interest was the bull market support band — two moving averages just below the $80,000 mark.
“On the low-timeframes, after rejecting at the high-timeframe resistance range marked in purple, I believe the most likely outcome is a short-term pullback toward the 2D Bull Market Support Band, which has been a strong reversal zone over the last couple of months,” analytics account Cryptic Trades wrote alongside a chart in its latest post on X.
“As long as price continues to hold above the support band and the broader high-timeframe support range marked in blue around $75K, which aligns with the April 2025 bottoming formation, I believe the most likely outcome remains further upside.”
BTC/USD one-day chart. Source: Cryptic Trades/X
Trader Daan Crypto Trades agreed, calling the initial move above the support band “not a clean break.”
“Would want to see a move to at least clear that sticky area around the low $80Ks and hold there for a week or two,” he told X followers.
BTC/USD one-week chart. Source: Daan Crypto Trades/X
CPI already “priced in” to BTC
Ahead of fresh US inflation data next week, trader Killa warned of headwinds returning for BTC price strength.
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The Consumer Price Index (CPI) for April, due out on Tuesday, was set to show the ongoing impact of the US-Iran war and oil-price rises on the economy.
“Its priced in,” Killa wrote on X.
“BTC has rallied after the last two CPI releases. However, if we follow 2025 CPI price action, we may see bigger players start de-risking into the event counter narrative.”
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 sweeps around this pivot to signal the next move,” Killa added.