Bitcoin (BTC), as seen by traders, was aiming for $81,000 at Sunday’s close.
Important points
- Bitcoin preserved $80,000 during the weekend. However, traders wait for a drop to test a chart feature they are familiar with.
- The general consensus is that the next step should be to continue higher.
- Bitcoin is already a part of the US CPI data. “pricing in” The result.
Bitcoin traders: Sub $80,000 test next
TradingView’s data shows that BTC is trending up after an almost flat weekend. It avoided a loss below $80,00.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
The midweek holiday trip cost nearly $83,000 failed to hold, however, traders saw the need for BTC/USD to retest support — something that they now reiterated.
The’special 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,” Cryptic Trades published an analytics report alongside a graph 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: Crypto Trades/X
Daan Crypto Trades also agreed with this, stating that the first move was above the band of support. “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 is already “priced in” BTC
Ahead of the release of new US inflation data, next week, Killa warns of a return of headwinds for BTC’s price.
Related: Bitcoin Bollinger Bands push key breakout as creator acts on positive signal
Consumer Price Index April (CPI), due on Tuesday was originally scheduled to show the ongoing impact Effects of US-Iran conflict and rising oil prices.
“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
The area surrounding the bull market’s support band is also worth watching, as it will put $74,000 in the spotlight if the band fails.
“I would watch for liquidity sweeps around this pivot to signal the next move,” Killa added.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
