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Before the US stock market opens, let's update today's #BTC options GEX..
At 90k, the gamma has reversed.. A few days ago, 90k was consistently a large positive gamma, causing the price to encounter damping when it reached this range, reducing volatility. (Because in the positive gamma zone, options market makers hedge inversely; when the price rises, they sell)
This is also one of the reasons why it couldn't break through twice...
However, today at 90k, the gamma is in a negative state.. This means options market makers are hedging positively; the closer the price gets to 90k, the more they buy as it rises, and the more they sell as it falls..
In the past week, 90k has been suppressed twice... If the bulls want to break through 90k today, this is a good opportunity..
(Similarly, it’s better for bears not to habitually open shorts at 90k today; observe the breakout situation before deciding whether to enter. Also, due to this negative gamma, a quick spike above 90k that pulls back can be considered a short, but if it stabilizes at 90k, don’t short anymore.)
Looking further to the sides, 85k is the positive gamma zone below the current price, so if it drops again today, watch around 85k...
Upwards, 92k and 94k are small positive gamma zones, uncertain..
But 95k has a large positive gamma.. If there’s a big upward surge today, approaching 95k can be judged based on total delta exhaustion and sell orders combined.. It will be a major resistance level within the day..