Traders say the Bitcoin decline is not over and will test the $75,000 support level.

According to Mars Finance, on May 10th, Bitcoin prices trended upward after a relatively stable weekend, avoiding a fall back below $80,000. However, after rising to near $83,000 mid-week, prices failed to hold, leading traders to believe Bitcoin needed to retest support levels – a point they now reiterate. Of particular note is the "bull market support zone" – two moving averages located below $80,000. Analyst Cryptic Trades stated, "On lower timeframes, after the price was rejected at the higher timeframe resistance zone, I think the most likely outcome is a short-term pullback to the 2-day bull market support zone, which has been a strong reversal zone over the past few months." He added, "As long as the price continues to hold above this support zone and the broader higher timeframe support zone (around $75,000), I think the most likely outcome remains further upside." Trader Daan Crypto Trades agrees, describing the initial breakout of the support zone as a "not-quite-crucial breakout." Regarding inflation, ahead of next week's release of new US inflation data, trader Killa warned that the strong BTC price could face headwinds again. The April Consumer Price Index (CPI) will be released on Tuesday and is expected to reflect the continued impact of the Iran war and rising oil prices on the economy. Killa wrote on X, "It's already priced in." He added, "BTC has risen after the last two CPI releases. However, if we look at the 2025 CPI price action, we might see large players starting to reduce their risk exposure ahead of the event." Support levels to watch include the vicinity of the bullish support zone; a break below this level would target $74,000.