Bitcoin approached roughly $81,000 into the weekly close, but traders expect one more pullback to retest familiar support before the next leg higher.
Key takeaways:
– BTC held near $80,000 over the weekend, but many market participants expect a short retest below that level.
– The broad consensus remains that, after a brief dip, the uptrend will continue.
– US CPI data is imminent and traders say the market has largely “priced in” the outcome.
Price action and support dynamics
After stalling around $83,000 midweek, Bitcoin avoided a full collapse beneath $80,000 over the weekend but showed signs it may need to revisit lower support. TradingView charts reflected a generally higher bias, yet analysts highlighted a likely short-term pullback to a known reversal zone.
Traders focused on the so-called bull market support band — a pair of moving averages sitting just below $80,000 that has acted as a reliable bounce area in recent months. Analytics account Cryptic Trades noted that, on lower timeframes, a pullback toward that 2-day bull market support band looks like the most probable near-term outcome after the rejection at higher resistance. They added that as long as price continues to hold above that band and the broader high-timeframe support area around $75,000 (which ties into the April 2025 bottoming formation), the path of least resistance remains upward.
Other market observers voiced similar caution. Daan Crypto Trades described the recent move above the support band as “not a clean break” and said he would like to see Bitcoin clear the sticky area in the low $80,000s and hold there for a week or two before calling the breakout confirmed.
CPI and macro considerations
US Consumer Price Index (CPI) data for April is due next week, and some traders warned that macro news could temporarily complicate BTC’s momentum. Killa argued that the inflation print is largely priced in and pointed out that Bitcoin rallied after the last two CPI releases, but cautioned that bigger players might de-risk their positions into the event, producing choppier action.
If the bull market support band fails to hold, traders highlighted $74,000 as a level of interest and said liquidity sweeps around that pivot could signal the next meaningful move.
Bottom line
Market participants broadly expect one more dip to test established support before resuming the uptrend, with the bull market support band and the $75–74K area as key zones to watch. The upcoming CPI release adds an element of event risk, though many believe the market has already priced in the likely outcome.
This content is for informational purposes only and does not constitute investment advice. All trading and investing involve risk; readers should do their own research and consider their individual circumstances before making financial decisions.
