- Bitcoin traders anticipate a pullback to retest the $80,000 support level and the bull market support band before a continuation higher.
- The broader consensus remains bullish as long as price holds above key support levels, including the April 2025 formation around $75,000.
- Upcoming US CPI inflation data is considered by some traders to be already “priced in” to Bitcoin’s current valuation.
- Traders are monitoring for a cleaner break above the low $80,000s, suggesting the need for sustained price action in that zone.
Bitcoin (BTC) traders are eyeing a potential retest of the $80,000 support band this week after the cryptocurrency trended higher into Sunday’s close, according to TradingView data. Market participants widely expect a short-term dip before another leg upward, contingent on holding critical support levels.
However, a midweek push toward $83,000 failed to hold, reinforcing the perceived need for a support retest. Consequently, analysts like Cryptic Trades highlighted the “bull market support band” just below $80,000 as a key reversal zone in their latest post on X. “As long as price continues to hold above the support band… I believe the most likely outcome remains further upside,” they wrote.
Meanwhile, trader Daan Crypto Trades agreed the initial break was not clean, telling followers a sustained move above the low $80,000s is needed. He argued price must clear that sticky area and hold for a week or two to confirm strength.
Ahead of Tuesday’s US Consumer Price Index data, trader Killa noted Bitcoin has rallied after the last two CPI releases. He wrote that the event is likely “priced in,” but warned of potential de-risking by larger players. Killa added that traders should watch for liquidity sweeps around key pivots to signal the next directional move.
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