- Bitcoin is trading close to its all-time high, prompting traders to focus on three major price levels for possible resistance or support.
- The $126,100 level marks the upper edge of a broadening price pattern and could act as significant resistance.
- If Bitcoin breaks above $126,100, the next key level is $135,000, where options market makers hold notable positions that can dampen volatility.
- The $140,000 price point has a high concentration of open call options interest, suggesting it may act as a price target and potential resistance.
- Large amounts of options activity and market makers’ hedging around these levels may influence market direction and volatility.
Bitcoin traded near record highs as of today, leading traders to watch for critical price levels that could shape future moves. Three levels—$126,100, $135,000, and $140,000—have emerged as significant thresholds based on trading activity and options data.
The $126,100 mark represents the top of an expanding range pattern that has been present since mid-July, according to analysis by Omkar Godbole of CoinDesk. A downward reversal from this level could result in a pullback towards lower boundaries of the trading range.
If Bitcoin unexpectedly surges past $126,100, attention shifts to $135,000. Market makers currently hold net long gamma positions at this price level on Deribit, according to data tracked by Amberdata. This means they often buy when prices fall and sell when prices rise, as a way to keep their exposure neutral. As a result, “this hedging activity may reduce large price swings,” Godbole notes.
The third key area, $140,000, is highlighted by open interest data from Deribit. The $140,000 strike call option is the second most popular, with notional open interest exceeding $2 billion. Notional open interest is the total dollar value of all outstanding options contracts at that particular strike price.
Large concentrations of open interest often attract price action, acting as so-called “magnet” levels. At the same time, financial institutions that have sold these call options may attempt to hedge or keep Bitcoin’s price below this barrier, adding to resistance at this point.
Experts state that these three levels—$126,100, $135,000, and $140,000—are likely to play a key role in near-term Bitcoin Price movements. For additional technical details and charts, readers can review the original CoinDesk analysis.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Crypto AI Agents Struggle With Errors, Firms Race to Improve Reliability
- Bitcoin Hits Record $125K as Exchange Balances Drop to 6-Year Low
- Bitcoin Hits Record $125K as Safe-Haven Demand, ETF Inflows Surge
- Bitwise CIO: Solana Poised to Be Wall Street’s Network of Choice
- Defiance Files for 49 Triple-Leveraged Crypto and Tech ETFs
