Bitcoin held firm above $80,000 heading into Sunday’s weekly close, but many traders believe the recent dip isn’t finished yet — and that a revisit of key support levels may come before any sustained move higher.

Weekend Calm Masks Underlying Caution

After a relatively quiet weekend, BTC price action drifted upward, avoiding a slide back below the $80,000 threshold. Yet the mood among traders remained cautious. A midweek rally that briefly pushed Bitcoin toward $83,000 failed to hold, reinforcing the view that the market needs to consolidate before attempting another leg up.

At the center of attention is the so-called bull market support band — a pair of moving averages sitting just beneath the $80,000 level that has repeatedly served as a launchpad for price recoveries over recent months.

Analysts See a Pullback as the Most Likely Near-Term Move

Analytics account Cryptic Trades flagged the support band as the probable next destination, noting that Bitcoin had just rejected from a key high-timeframe resistance zone. In its view, a short-term pullback toward that band is the most likely outcome — but as long as prices hold above it, and above the broader $75,000 support range that marked the April 2025 bottom, the overall bias remains to the upside.

Trader Daan Crypto Trades echoed that caution, describing the initial push above the support band as unconvincing. He suggested the market needed to clear and consolidate around the low $80,000s for at least a week or two before the breakout could be considered credible.

CPI Data Adds Another Layer of Uncertainty

Tuesday brings the April Consumer Price Index reading, and traders are already factoring in its potential impact. The data is expected to reflect pressure from rising oil prices and broader economic headwinds.

Trader Killa acknowledged that Bitcoin has rallied following each of the last two CPI releases, but warned that history may not repeat itself this time. Drawing on 2025 price patterns, he suggested larger players could begin reducing risk ahead of the event rather than waiting for the data to confirm a bullish narrative.

If the bull market support band fails to hold, Killa flagged $74,000 as the next level to watch, with liquidity sweeps around that zone potentially signaling the direction of the next significant move.

The Bigger Picture

Despite the near-term uncertainty, the broader consensus among traders remains constructive. A dip, if it comes, is widely seen as a reset rather than a reversal — with continuation to the upside still the dominant expectation once support is confirmed.