Bitcoin (BTC) bulls are eyeing a move back toward $80,000 in March, with at least three indicators adding to the upside.
Important Points:
Bitcoin rose more than 5 percent to $72,000 on Wednesday.
Several indicators, including a symmetrical triangle, point to an extended price rally towards $80,000.
Bitcoin Invalidates Bearish Chart Pattern
On Wednesday, the price of BTC showed signs of invalidating what was initially a bearish trend.
The BTC/USD pair pierced the upper trend line of the pennant after jumping 5.21% to reach around $71,900. Its breakout came with an increase in trading volume, indicating strong conviction behind the rally.
This simultaneously increased the odds of a symmetrical-triangle bullish reversal.
A symmetrical triangle is formed when price makes lower highs and higher lows, compressing into a tight range.
It is resolved when the price breaks any trendline and rises above the maximum height of the pattern.
In the case of BTC, the widest range of the triangle is around $63,000 to $71,000–$72,000.
A standard measured move above the upper trendline in March points to around $80,000 if the breakout holds. The level aligns with BTC’s 100-day exponential moving average (100-day EMA, purple line).
Related: US Spot Bitcoin ETFs Raise $225M As BlackRock’s IBIT Offsets Redemptions
BTC’s next hurdle is the 50-day EMA (red) near $74,400. A rejection there would weaken the breakout and increase the odds of a return to the 20-day EMA (green) around $68,700.
BTC futures gap unfilled at $80,000.
The measured $80,000 target of the triangle also overlaps with an unfilled CME futures gap, turning the area into a clear magnetic zone for the bulls.
A CME gap occurs because CME Bitcoin futures stop trading at the end of the week. If the spot price of bitcoin moves while the futures market is closed, the latter may reopen at a new level, leaving the price zone on the chart empty.
As of Wednesday, the gap has sat around $79,660–$81,210 since early February.
Since August 2025, 9 of the last 10 CME gaps have been filled, which is why traders can view the $79,660–$81,210 region as a high-priority target as spot and futures prices realign.
Polymarket Raises Bitcoin Odds to $80,000 in March
Polymarket, a crypto-based prediction market where users trade contracts on real-world outcomes, is showing a clear bullish reversal for BTC in March.
Traders now assign 40% odds that Bitcoin will hit $80,000 on Wednesday, up from 20% a day earlier. A $75,000 goal is an even stronger belief at 70% than the total of 40%.
At the same time, the chances of BTC price reaching $65,000 and $60,000 in March are lower than before, suggesting that the crowd is discounting negative expectations.
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