BTC has reacted aggressively over the last 24 hours after testing the 100 EMA on the daily timeframe . The benchmark cryptocurrency might not have enough fuel to push through the $42.4K ceiling, where the EMA rests.

The cryptocurrency has dropped to the $41.5K area today following the rejection. That said, the $42.4K is now the critical level to break in the near term to perfect a push into the $45K – $46K axis before the month runs out. In the meantime, I do not expect the current correction to extend beyond the $41K support, where I expect more buyers to come on board and drive a retest and possible break of the 100 EMA over the coming days.

Meanwhile, my resistance levels are at $42,000, $42,400, and $43,000, and my key support levels are at $41,000, $40,000, and $39,000.

Total Market Capitalization: $1.86 trillion

Bitcoin Market Capitalization: $787.2 billion

Bitcoin Dominance: 42.2%

Market Rank: #1