Bitcoin Setup Hints at $80K Breakout

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A symmetrical triangle breakout and an unfilled CME gap are boosting the case that Bitcoin may revisit $80,000 in March.

Bitcoin bulls are eyeing a move back toward $80,000 in March, with at least three indicators flashing increasing upside momentum.

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 BTC/USD 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.

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