Bitcoin's triangular consolidation has ended with a bullish breakout, opening the door to $80,000, according to analysis by 10x Research.

The latest breakout comes on the back of a blowout U.S. jobs report.

Bitcoin (BTC), the leading cryptocurrency by market value, could soon rally to new record highs after breaking through a so-called triangle resistance, according to technical analysis by 10x Research.

Early Monday, BTC rose past $72,000, passing through a triangular consolidation pattern identified by a resistance line connecting March 15 and March 27 highs and a support line connecting March 20 and April 3 lows.

"If the breakout is bullish, which we suspect, bitcoin could climb above 80,000 during the next few weeks – if not earlier. Buying at $69,280 and setting a stop loss at $65,000 appears appropriate," Markus Thielen, founder of 10X Research, said in a note sent to clients early Monday.$BTC