@cryptorover And if price doesn’t reach around 70k, we can see a gamma spike towards 85k first and 100k then where maximum call writers(bears) will get stuck.
2150 remains a key resistance with heavy call writing sitting at this strike.
A clean breach could trigger a quick move towards 2250.
For tomorrow’s expiry, no major resistance seen till 2300.
Strong put writing at 2150 & 2200 may continue supporting upside momentum.
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76500 looks like a strong support with heavy call writing at this level.
If price manages to sustain above this zone, we could see a move towards 80k this week.
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72K looks like the biggest resistance today.
Heavy call writing (~$46M notional) sitting at this level.
If it breaks, a gamma spike towards 75K into weekly expiry is possible.
For now, not an easy level to clear.
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@AshCrypto Monthly highest OI at 75k. Huge call writers. Once it breaches, yes we can see gamma spike i.e rally towards 80k-82k, where high leveraged shorts SL are placed
Yesterday was a perfect example of a gamma spike.
Call writers at 70K, 71K, and 72K got trapped, triggering an explosive move.
That’s how positioning drives price.
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69,500 appears to be a strong resistance for today due to heavy call writing at this strike.
A break above could trigger a decent upmove, but for now it looks difficult.
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