Bitcoin held above $80K into the weekly close as traders watched for a possible retest of key support zones.
Bitcoin News
Bitcoin (BTC) closed the weekly session near $81,000 on May 10, after holding above $80,000 through the weekend. Price action remained flat across Saturday and Sunday, with no meaningful drop below that level. A push toward $83,000 earlier in the week failed to hold, leaving traders watching for a near-term pullback before any further advance.
Bull Market Support Band in Focus
The zone drawing the most attention is the bull market support band, formed by two moving averages positioned just below the $80,000 mark. Analytics account Cryptic Trades wrote on X on May 10 that rejection at high-timeframe resistance makes a short-term dip toward that band the most likely near-term outcome. The account added that the zone has functioned as a reliable reversal area over the past several months.
Cryptic Trades said the broader bullish case remains intact as long as BTC holds above the $75,000 range. That level aligns with the price bottom formed in April 2025. A sustained break below it would call the recovery structure into question.
Trader Daan Crypto Trades told his X followers on May 10 that the initial move above the support band did not qualify as a clean break. He said he wants to see the price hold above the low $80,000 range for one to two weeks before treating the level as confirmed support.
CPI Data Adds to Near-Term Uncertainty
With the Consumer Price Index (CPI) report for April due out on May 13, trader Killa flagged a possible shift in market behavior ahead of the release. They wrote on X on May 10 that BTC has risen following each of the last two CPI releases. The trader cautioned, however, that larger market participants may begin reducing risk exposure ahead of the print, consistent with patterns seen during 2025 CPI cycles.
Killa identified $74,000 as the next key level to monitor if the bull market support band fails. They said traders should watch for liquidity sweeps around that level as a signal for the next directional move. The April CPI data will capture the cumulative effect of rising oil prices on the broader economy.
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