Asked @backquant for a Sierra-style footprint yesterday at 11:19. Woke up this morning to “it’s done.” Thats exactly why his platform made my daily rotation and the others I used to pay for didn’t. He actually listens to traders, and he ships.

bitcoin:native Morning Prep Oct 7th Wednesday Overnight we flushed HARD from 85.6k into 83.5k - 2.4% range expansion. On the footie you can see: OI down $222M CVD −168M, and around $5.8M in longs liquidated against only about $1k in shorts. This was margin driven exits and liquidations. The only real initiative on the way down was one large short opened around 84.6k, which is now the session POC and current resistance you wanna play off of. We stopped at 83.52k, front ran both previous weeks naked POC and vPOC rather than trading into them. Two nPOCs have been tested on the way down, and two are still left unmitigated below. Since the low price has recovered 1.4% with OI up $194M and CVD up only 67M - new longs are opening in a nice manner and volume is picking up, but the bounce is positioning mostly. On the aggregate side, OI is back at +1.15σ on the 7.5D Z score while perp CVD has barely recovered - it's pretty obvious that fresh leverage is building under a lower high. Structurally speaking we lost the monthly VWAP which also sits at the range VAH. A rotation back toward it is likely because that flow just needs to be repriced sooner or later but for shorts the play is pretty simple: you don't want to see price get back past the actual VWAP , along the same lines, the z score topping candles from the flush need to hold. The worst outcome for the bearish case is those candles getting fully repriced and closed above. The play I'm watching is a rejection from the LVN above. If price can't build value inside that LVN, the only logical destination is the unmitigated POCs below, where people have shown they're willing to transact. We're already spending time lower - we just need more time to see proper session volume behaviour at these important levels. @backquant Terminal Analysis Funding has reset to 0.07 bps ( Z -1.28σ ), so theres no crowded long to squeeze, and DVOL has bled back to 35.8% after the flush spike. Net GEX is long at +$31.6M, ( dealers sell rips and buy dips ), and the regime is mean reverting. The 0DTE put wall is 83.6k which lines up with the monthly and quarterly open. The 0DTE call wall is 84.8k. Negative gamma sits at 84.5 to 84.75k right around where that large short was opened so acceptance above it could force a squeeze into 85.2 to about 85.3k and the monthly VWAP basically. Options flow: 150 contracts of 84k Oct 16 puts were bought for near term protection. Levels for me: 85.29k: monthly VWAP and range VAH, short invalidation 85.0 to 85.2k: LVN and liquidity band 84.6k: session POC, largest short opened 84.8k: 0DTE call wall 84.0k: gamma pin and dVAL 83.6k: 0DTE put wall, monthly and quarterly open 83.5k: weekly low, front run of prior nPOC/vPOC 82.6k: London ATR low El Plan: I'm looking for a rejection from 84.6 to 85.0k and then failure to build value in the LVN targets 83.6k and then the unmitigated POCs below. On the contrary acceptance above 85.29k with the flush candles repriced invalidates the idea and I'd close my charts until NY AM. Verdict/TLDR Whoever controls 84.6k likely controls the day.