Traders Expect Bitcoin to Retest $75K–$80K Ahead of CPI

Bitcoin held above $80,000 into the weekly close, but traders expect a short retest of $75,000–$80,000 support ahead of next week’s US Consumer Price Index and jobs reports. The CPI for April is due Tuesday, with the jobs reports scheduled later in the week.

Price action rose after a largely flat weekend and remained above $80,000 after a midweek high near $83,000 failed to hold. Market participants identified two moving averages just below $80,000 as a recurring reversal zone, and a broader high-timeframe support area around $75,000 tied to an April 2025 bottoming formation.

Chart analyst Cryptic Trades wrote on X that a pullback toward the two-day bull-market support band is the most likely near-term pattern and added, “As long as price continues to hold above the support band and the broader high-timeframe support range around $75K, I believe the most likely outcome remains further upside.”

Daan Crypto Trades described the initial move above the band as “not a clean break” and said he wants to see price clear the low $80,000 area and remain there for a week or two before calling the breakout established.

Traders are watching US CPI for April, due Tuesday, and jobs data next week for potential volatility. Trader Killa wrote on X that the CPI result may already be reflected in Bitcoin’s current price, noting BTC rallied after the last two CPI releases and that some large investors could reduce exposure into the event. Killa also wrote, “It’s priced in.”

Technical traders flagged possible liquidity sweeps and highlighted $74,000 as a level to watch for liquidity grabs that could set up the next directional move. Traders said if those sweeps occur and the support band holds, buying could resume; if support breaks, a deeper pullback toward lower longer-term levels would be more likely.

Participants noted that Bitcoin has reacted to US inflation prints with short-term rallies in recent months. A retest of the $75,000–$80,000 band would align with recent patterns of pullbacks into moving-average support followed by renewed buying, while clear closes below that range could alter the near-term outlook.

This article is for informational purposes and does not constitute investment advice. Readers are encouraged to conduct independent research before making trading decisions.