Key takeaways:

Bitcoin jumped by over 5% toward $72,000 on Wednesday.

Multiple indicators, including a symmetrical triangle, hint at an extended price rally toward $80,000.

Bitcoin invalidates bearish chart pattern

On Wednesday, BTC’s price showed signs of invalidating what initially appeared to be a bear pennant.

The
BTCUSD
pair pierced the pennant’s upper trend line after jumping 5.21% to around $71,900. Its breakout came alongside a rise in trading volume, implying stronger conviction behind the rally.

That simultaneously increased the odds of a symmetrical-triangle bullish reversal.

A symmetrical triangle forms when price makes lower highs and higher lows, compressing into a tightening range.

It resolves when the price breaks either of the trendlines and moves by as much as the pattern’s maximum height.

In BTC’s case, the triangle’s widest range is roughly $63,000 to $71,000–$72,000.

A standard measured move above the upper trend line points to about $80,000 in March if the breakout sticks. The level aligns with BTC’s 100-day exponential moving average (100-day EMA, the purple line).

BTC’s next hurdle is the 50-day EMA (red) near $74,400. A rejection there would weaken the breakout and raise the odds of a pullback toward the 20-day EMA (green) around $68,700.

BTC futures gap remains unfilled at $80,000

The triangle’s $80,000 measured target also overlaps with an unfilled CME futures gap, turning the area into a clear magnet zone for the bulls.

A CME gap happens because CME Bitcoin futures stop trading over the weekend. If Bitcoin’s spot price moves while the futures market is closed, the latter can reopen at a new level, leaving an empty price zone on the chart.

As of Wednesday, that gap has been sitting around $79,660–$81,210 since early February.

Nine of the last 10 CME gaps have been filled since August 2025, which is why traders may view the $79,660–$81,210 region as a high-priority target as spot and futures prices re-align.

Polymarket raises odds of $80,000 Bitcoin in March

Polymarket, a crypto-based prediction market where users trade contracts on real-world outcomes, is showing a clear bullish shift for BTC in March.

Traders now assign 40% odds that Bitcoin reaches $80,000 on Wednesday, up from 20% a day ago. The $75,000 target carries even stronger conviction at 70%, up from 40% yesterday.

At the same time, the odds of the BTC price reaching $65,000 and $60,000 in March are priced lower than before, suggesting the crowd is trimming downside expectations.
source: https://www.tradingview.com/news/cointelegraph:337e10b2c094b:0-three-bitcoin-signals-show-80k-is-next-btc-price-target-for-bulls/