Bitcoin Reclaims $80,000: What Does Technical Analysis Say?

Bitcoin's BTC/USD roared back to $80,000 on Tuesday, triggering renewed optimism among traders who now anticipate a potential breakout week if price action doesn’t stall.

What Happened: Crypto trader Astronomer on Tuesday shared a breakdown of a well-timed BTC long, executed in real-time as the local low was set.

The move wasn't based on hindsight, but on a combination of key bullish signals: a stretched CME gap and weekly open above, a fakeout move down on Monday, smart money accumulation while retail was selling, and a broader macro bullish bias that had been building for weeks.

Despite BTC forming a lower low, the reclaim of $80,000 validated the bullish setup.

Astronomer now targets $84,000 this week, as long as price doesn't stall sideways.

Also Read: Bitcoin Is A ‘More Liquid And Higher Volatility Version Of Gold’: Bernstein

Why It Matters: Glassnode data shows that majority of the cryptocurrency assets witnessed a sharp uptick in futures volume in the past seven days.

This reflects a reversal from the past month, when futures volumes had been steadily declining.

XRP was leading with 78% growth, Bitcoin followed with 64% and Ethereum and Solana stood at 58% growth each.

Over the past 7 days, most major assets saw a sharp uptick in futures volume:

🟠 $BTC: +64%
🔵 $ETH: +58%
⚫️ $XRP: +78%
🟣 $SOL: +58%

This marks a reversal from the past month, when futures volumes had been steadily declining. pic.twitter.com/zSZlKRCOxQ

— glassnode (@glassnode) April 8, 2025

What's Next: Crypto trader XO outlined a probable trading range for the week, framed by Monday's high and low.

Key zones include supply resistance at $82,500 and a strong demand range between $73,000–$74,000.

He also pointed out a major weekly pivot level at $80,600 that could serve as both support and resistance depending on upcoming price action.

XO is focused on short-term trades, looking for long setups near Monday's low and short opportunities if price approaches or exceeds Monday's high — where sellers may begin to step in.

Read Next:

• Are Bitcoin And The S&P 500 Heading For A Death Cross?

Image: Shutterstock