Bitcoin (BTC) bulls returned to $80,000 in March, and at least three indicators point to a bullish trend.
Basic considerations:
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Bitcoin rose more than 5% to $72,000 on Wednesday.
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Several indicators, including the symmetrical triangle, point to a broad price increase to $80,000.
Bitcoin cancels bearish chart pattern
On Wednesday, the price of BTC showed signs of invalidating what initially appeared to be a bearish pennant.
The BTC/USD pair pierced the upper trend line of the pennant after jumping 5.21% to around $71,900. The pullback came alongside an increase in trading volume, indicating stronger conviction behind the rally.
This simultaneously increased the probability of a triangular symmetrical change.
A symmetrical triangle is formed when price makes highs and lows and squeezes into a strong range.
It is resolved when the price breaks one of the trends and moves up to the maximum height of the pattern.
As for BTC, the wide range of the triangle is around $63,000 to $71,000 to $72,000.
The measured standard deviation above the upper trend line in March shows around $80,000 if the break is absorbed. The level corresponds to BTC’s 100-day exponential moving average (100-day EMA, purple line).
related to: US Bitcoin spot ETFs add $225m as BlackRock’s IBIT offsets losses
BTC’s next hurdle is the 50-day EMA (red) near $74,400. Its rejection weakens the breakout and increases the likelihood of a return to the 20-day EMA (green) around $68,700.
BTC futures position is not filled to $80,000
The $80,000 gauge target of the triangle also coincides with the unfilled CME futures gap, making this area a clear magnetic zone for the bulls.
The CME situation comes as CME Bitcoin futures halt trading for the weekend. If the spot price of Bitcoin moves when the futures market closes, the latter may open at a new level, leaving an empty price zone on the chart.
As of Wednesday, the gap from early February was about $79,660 – $81,210.
Nine of the last 10 CME gaps have been filled since August 2025, so traders can consider the $79,660-$81,210 zone as a priority target as spot and futures prices begin to align again.
Polymarket raises odds of $80,000 Bitcoin in March
Polymarket, a cryptographic prediction market where users make contracts on real-world outcomes, shows a clear reversal of BTC in March.
Traders are now assigning a 40% chance that Bitcoin will hit $80,000 on Wednesday, up from 20% a day earlier. The $75,000 target has even stronger conviction at 70%, compared to 40% yesterday.
At the same time, the possibility of BTC price reaching $65,000 and $60,000 in March is cheaper than before, with the crowd reducing low expectations.
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