On the BTC/USD chart, the cup and handle pattern
The BTC/USD exchange rate has climbed to a new high and is trading at $39,747 at the time of writing on the Bybit exchange
Bitcoin is up nearly 900% after breaking below $4,000 in March 2020. Today the price of the cryptocurrency exceeded $39.5 thousand, coming close to $40,000.
It happened at 16:10 UTC on the Bitstamp exchange. The sum of five thousand dollars was added in less than one day. Bitcoin's market capitalization is currently $731.3 billion.
The chart below shows a cup and handle pattern. It means bitcoin has a $40,000 exit potential. This is a very profitable trade. The stop loss should be placed at the bottom of the handle - $34,200.