Here’s today’s Bitcoin update.
The nearest overhead options wall is at $85,000.
There also appears to be a wall at $82,000, although it is smaller than the one at $85,000.
Hedging demand is concentrated around $80,000–$82,000, which may draw price toward this area.
The nearest downside options wall is at $79,000.
Further down, $78,000 is a major level to watch. (This does not necessarily mean it acts as a support wall.)
A key turning point for market-maker hedging sits around $80,000. While price remains above this level, volatility tends to be dampened, making technical support and resistance levels more likely to hold.
Implied volatility has generally been hovering in the low 40% range, suggesting that the market is not pricing in particularly large price swings ahead.
GEX, which indicates the estimated scale of gamma-related hedging adjustments, has been relatively small recently.
$BTC
#Option
#Bitcoin
The nearest overhead options wall is at $85,000.
There also appears to be a wall at $82,000, although it is smaller than the one at $85,000.
Hedging demand is concentrated around $80,000–$82,000, which may draw price toward this area.
The nearest downside options wall is at $79,000.
Further down, $78,000 is a major level to watch. (This does not necessarily mean it acts as a support wall.)
A key turning point for market-maker hedging sits around $80,000. While price remains above this level, volatility tends to be dampened, making technical support and resistance levels more likely to hold.
Implied volatility has generally been hovering in the low 40% range, suggesting that the market is not pricing in particularly large price swings ahead.
GEX, which indicates the estimated scale of gamma-related hedging adjustments, has been relatively small recently.
$BTC
#Option
#Bitcoin