Bitcoin

<![CDATA[<figure class="image"><img src="https://cimg.co/news/126835/334900/bitcoin-pexels-karolina-g.jpg" alt="Bitcoin - pexels-karolina-grabowska" srcset="https://cimg.co/news/126835/334900/responsive-images/bitcoin-pexels-karolina-g___media_library_original_1200_800.jpg 1200w, https://cimg.co/news/126835/334900/responsive-images/bitcoin-pexels-karolina-g___media_library_original_900_600.jpg 900w, https://cimg.co/news/126835/334900/responsive-images/bitcoin-pexels-karolina-g___media_library_original_720_480.jpg 720w, https://cimg.co/news/126835/334900/responsive-images/bitcoin-pexels-karolina-g___media_library_original_600_400.jpg 600w, https://cimg.co/news/126835/334900/responsive-images/bitcoin-pexels-karolina-g___media_library_original_300_200.jpg 300w" sizes="100vw" width="1200" class="content-img"></figure>Source: Pexels&nbsp;<a href="https://cryptonews.com/guides/how-to-buy-bitcoins.htm">Bitcoin</a> price volatility declined recently, as the digital currency has been trading within a relatively modest range over the last few days.&nbsp;The digital currency, which was trading close to $34,000 at the time of this writing, has not moved around much yesterday and early today, according to Coinbase BTC/USDT data provided by <a href="https://www.tradingview.com/chart/HoAHmrAQ/?symbol=COINBASE%3ABTCUSDT">TradingView</a>.&nbsp;Since the cryptocurrency has been suffering from this malaise, one might wonder what technical levels traders it shohonitoing p next.&nbsp;<h2 id="investors-will-seek-continued-momentum-above-32k-says-analyst">Investors Will Seek 'Continued Momentum' Above $32k, Says Analyst</h2>Brett Sifling, an investment advisor for Gerber Kawasaki Wealth &amp; Investment Management, singled out a specific price level when offering technical analysis.&nbsp;"Now that Bitcoin has broken out over the year to date highs ($32,000 resistance level), investors will look for continued momentum above that level," he stated.&nbsp;"Ideally it will hold that level if the price does decide to correct and test that previous resistance level and confirm it as new support," Sifling added.&nbsp;<h2 id="derivatives-data-shows-major-support-levels-strong-strong">Derivatives Data Shows 'Major' Support Levels&nbsp;</h2> Greg Magadini, Director of Derivatives for digital asset provider Amberdata, offered commentary for this article.&nbsp;When developing a response to my questions, Magadini focused on data related to derivatives, which are basically risk management tools that market participants use to fulfill their investment objectives.&nbsp;One kind of derivative contract is an option contract, which gives the holder the right, but not the obligation, to purchase an underlying asset at a predetermined price.&nbsp;"Option traders are positioned for BTC to move! Especially in the EOY DEC expiration cycle, traders are positioned into 2 major zones," he stated.&nbsp;Further, Magadini claimed that "Major resistance is found at: $37k then $45k."&nbsp;"The $40k DEC expiration has a large concentration negative dealer gamma... as traders have been buying 40k call options expecting follow through as hopes for the SPOT bitcoin ETF grow louder," he added.&nbsp; &nbsp;
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What Key Technical Levels Should Bitcoin Traders Watch After Crypto Price's Recent Plunge?

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