@rosemaryhosea
A thick sell wall—large resting offers at visible levels—can suppress momentum by absorbing market buys and discouraging breakout attempts. Its impact depends on three dynamics: durability (are orders firm or spoofed), replenishment (does supply reload after partial fills), and adversarial flow (are ETFs/whales accumulating beneath). If options dealers are short gamma above the wall, hedging can add overhead supply; conversely, a flip to long gamma can lubricate a squeeze through it. Liquidity fragmentation matters: deep DEX/CEX cross-venue routing can punch holes faster than surface books imply. Catalysts such as stronger net inflows, positive macro prints, or surprise listings often convert walls into fuel as stop orders cascade. Treat walls as resistance, not ceilings—monitor tape, iceberg behavior, and footprint deltas for tells.
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