The BTC price successfully continues the uptrend after the retest of the falling wedge breakout. The rally breaks above the $40K and aims to head higher. 

The most distinctive benefit of Bitcoin comes because it was the first cryptocurrency to hit the market.

It has been able to establish an international community and gave birth to a completely new business sector with millions of passionate users who invest, trade, and utilize Bitcoin and other cryptocurrencies in their daily lives. The first cryptocurrency has provided an idea and a technological foundation that later influenced the creation of a multitude of different projects.

Let us move ahead to read about BTC technical analysis.
<h2>Past Performance of BTC</h2>
The BTC price action retests the bullish breakout of the falling broadening wedge pattern within a morning star pattern. The bullish reversal with the morning star resulted in a price jump of more than 11%. Moreover, the price breaks above the crucial $40K mark. 

<img src="https://s3.tradingview.com/snapshots/i/It3kj11q.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/It3kj11q/">BTC/USD Daily Chart</a>
<h2>BTC Technical Analysis</h2>
The <a href="https://www.cryptoknowmics.com/news/btc-technical-analysis-strange-growth-and-the-target-of-41500/">BTC</a> price shows a slight retracement to retest the bullish breakout of the $40K in the price chart. However, traders can shortly find the price giving a lower price rejection to continue the uptrend. 

The crucial Exponential Moving Averages (50, 100, and 200-day) showcase a bearish alignment in the daily chart. The price jump aims to break above the 50-day EMA (red) to reinstate the uptrend. 

The RSI indicator shows a sharp increase in the slope as it breaks above the 14-days SMA and the central line in the daily chart. Therefore, the indicator reflects a boom in the underlying bullishness. 

The MACD indicator shows the MACD and signal lines rising higher towards the zero line after the bullish crossover. Moreover, the increasing trend of bullish histograms showcases a rising buying pressure. 

In a nutshell, the technical indicators and the sudden increase in buying pressure reflect a potential uptrend that may reach the $45K mark shortly. 
<h2>Upcoming Trend</h2>
The BTC price action finds a sudden increase in demand after the retest of the falling wedge pattern and breaks above the $40K mark. This improves the overall market sentiment and increases greed among investors. 

As per the Bitcoin price action, the crucial support levels are at $40K and $38K. And, on the upside, the rising uptrend can find opposition near the $45 and $48K.

BTC Technical Analysis: $40K Breakout Brings Back The Lost Bullishness

The BTC price successfully continues the uptrend after the retest of the falling wedge breakout. The rally breaks above the $40K and aims to head higher. 

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

BTC Technical Analysis: $40K Breakout Brings Back The Lost Bullishness

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