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Bitcoin held near the 80,000 level into the weekly close, as traders said a dip below the mark had not yet played out. After a mostly flat weekend, BTC/USD avoided a sustained move under 80,000, though market participants appeared to be looking for a pullback before any further advance.
TradingView data showed BTC price action trending higher after the weekend consolidation, with traders emphasizing the need for BTC/USD to retest a key support area. The focus comes after a midweek move toward roughly 83,000 failed to hold.
One area of interest is the “bull market support band,” described as two moving averages positioned just below 80,000. Cryptic Trades said that, following rejection at a higher-timeframe resistance range, the most likely short-term outcome is a pullback toward the 2D Bull Market Support Band, which has acted as a reversal zone over the past couple of months.
Cryptic Trades added that if price remains above the bull market support band and the broader high-timeframe support range around 75,000—aligned with an April 2025 bottoming formation—further upside would remain the most likely scenario.
Another trader, Daan Crypto Trades, said the initial move above the support band did not represent a “clean break.” He said he would want to see BTC move to at least clear the “sticky area” in the low 80,000s and hold there for a week or two.
On downside levels, Killa pointed to 74,000 as an area to watch if the bull market support band fails. He also said he would look for “liquidity sweeps” around the pivot to help signal the next move.
Ahead of fresh US inflation data next week, Killa warned that headwinds could return for BTC price strength. The CPI for April is due out on Tuesday, and he said it is expected to reflect the ongoing impact of the US-Iran war and oil-price rises on the economy.
Killa said the event was already priced in, noting that BTC has rallied after the last two CPI releases. He also referenced 2025 CPI price action, suggesting that if the pattern holds, larger market participants could begin “de-risking” into the event.
The article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
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