Market Wrap: Bitcoin Reverses Course, Pushes Higher, $21K Is ‘Point of Control’

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The point of control, which is illustrated by the red line in the chart below, represents price levels where a substantial amount of price agreement exists. That in turn is often interpreted as showing levels of support or resistance. BTC is showing the largest amount of price agreement at about $21,000, with the next high volume node at $30,000.