NVDA Structure DissectionNVIDIA CorporationBATS:NVDAMartinChouTradeKey Level 180 remains the key level to watch. I expect the price continues to gravitate back toward it as liquidity rebalances. Structure The post-earnings selloff broke below the 180 level with strong volume, which likely triggered dealer hedging since 180 previously aligned with a strong negative gamma level. That was why I highlighted it as a key level to watch in my previous post. However, the intraday POC on the Feb. 27 selloff remained just above 180, suggesting there was limited acceptance of lower prices despite the initial breakdown. A strong rebound followed the next day, creating a liquidity imbalance between 175 and 185, which caused price to quickly snap back toward the 180 level where the POC was established. The following candle also showed clear buyer absorption, reinforcing that selling pressure was being met with demand. Today price revisited the 180 area and pulled back slightly near the end of the session. As shown on the chart, the POC again remained near 180, accompanied by thin volume and relatively neutral volume delta. The late session selloff appeared to be more of a passive drift rather than aggressive selling pressure. A similar pattern occurred during yesterday’s push toward the 184 supply zone, where most of the green candle body formed through gradual price drift rather than strong buying pressure. Moves driven primarily by passive flow tend to be unstable, particularly under the current macro conditions. For now, 180 continues to act as the primary liquidity zone, where the market has repeatedly returned to transact. Macro Context The broader market has recently shown early signs of de-risking. Oil prices have been rising quickly while credit conditions have started to soften, suggesting some tightening in financial conditions. At the same time, market breadth has been narrowing indicating capital rotation rather than broad risk appetite.