ChainCatcher report, according to Cointelegraph, Bitcoin rose 5.21% on Wednesday to approximately $71,900, breaking above the upper trendline of a previously identified bearish flag pattern, accompanied by increased trading volume that weakened the short-term bearish structure. Analysts suggest $80,000 may be the next target for this rally. The unfulfilled gap at CME currently sits between $79,660 and $81,210, remaining open since early February. Data shows that 9 out of 10 gaps since August 2025 have already been filled, leading traders to typically regard this range as a high-priority target. If Bitcoin does not encounter significant selling pressure near $74,000 in the short term, the likelihood of a push toward $80,000 is increasing. Currently, on the prediction market Polymarket, the probability of Bitcoin breaking above $80,000 in March has risen to 40%.
Bitcoin rises to $71,900, setting its sights on $80,000 as the next target.
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Summary
Bitcoin news reports that Bitcoin rose 5.21% to $71,900 on Wednesday, breaking above the upper trendline of the bearish flag on strong volume. Analysts in Bitcoin analysis suggest $80,000 could be the next target. The CME’s unrefilled gap lies between $79,660 and $81,210, a key level for traders. If Bitcoin avoids heavy selling near $74,000, the path to $80,000 becomes clearer. Polymarket now shows a 40% chance of a March breakout above $80,000.
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