Bitcoin has veered way off-course from my previous price projection as the benchmark cryptocurrency extended its correction from the $45,000 level to the $43,000 base, printing a new monthly low at $42,750.

The market has now recorded a bearish slowdown at $43,000 as bulls fight for a rebound. That said, the key level for bulls to reclaim to quell bearish tensions is the $45,000 zone. Until then, BTC remains under the risk of a bearish extension to $42,000. Nonetheless, trading conditions are now in oversold territories suggesting that a bullish easing is around the corner.

Meanwhile, my resistance levels are at $44,000, $45,000, and $46,000, and my key support levels are at $43,000, $42,000, and $41,000.

Total Market Capitalization: $2.01 trillion

Bitcoin Market Capitalization: $829.1 billion

Bitcoin Dominance: 41.2%

Market Rank: #1