Bitcoin’s Broadening Wedge (The Bull Hopium Case)

Bitcoin has been trading tentatively higher since tagging $60K in early February. But on the weekly chart, a clean broadening wedge is taking shape. If you’re looking for a bullish bitcoin scenario, this is one chart to watch.

A broadening wedge is building on the weekly chart

Most chart patterns compress over time. Triangles, pennants, flags – all squeeze the price into a tighter range before the breakout. Broadening wedges do the opposite – they broaden. The price swings get bigger, not smaller. 

That’s what’s happening on bitcoin’s weekly chart right now. You can draw an upward-sloping trendline through the January 2025 peak near $110K and the summer 2025 peak near $125K. Below it, a downward-sloping trendline connects the early 2025 low near $80K to the February 2026 low near $60K. Smaller touches between those pivots strengthen both lines.

Bitcoin recently bounced off the lower trendline and is back near $80K. Buyers are defending the bottom of the wedge. So far, so bullish.

Hopium targets for bitcoin bulls

If the wedge pattern stays intact, the target is the upper trendline. And since the line slopes up, the target gets higher with time. So the target depends on when bitcoin gets there (if it gets there at all).

If bitcoin tagged the upper trendline today, the target would be around $140K (of course, that’s not happening soon). By August, the target moves up to roughly $150K. And by year-end, it’s near $160K. The slower the climb, the higher the eventual target, according to the pattern.

For now, the lower trendline near $60K is holding. Hopium intact.

As usual, none of this is investment advice. To learn more about how trendlines work, check out our Trendlines Explained guide.