IMPORTANCE OF MONTHLY POC
that horizontal line you see around 90k on the chart is the december monthly poc (point of control), basically the price level where the highest volume was traded during the entire month of december. 1/3
monthly pocs are really important because they act like strong magnets for price, represent the “fair value” that big players agreed on last month, and price tends to respect them heavily as support or resistance. 2/3
right now we’re sitting below it, so it’s often capping rallies and acting as resistance until we manage to reclaim it cleanly. with only about two days left in january, keep a close eye on how price behaves around current levels. 3/3
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