POC is $34K - Does That Mean the Bottom Is In?

POC shows $34,xxx when evaluating PA since before 2021. To me that implies that POC is the line in the sand. We bounced strongly off that POC. If that POC is in fact where support must turn into resistance to further the bears' momentum, then an extraordinary amount of selling must occur there. It was also a key level for barely-late leveraged longs. It seems more likely to me that this is the bottom before a new ATH than bears having enough selling pressure to flip the market to the downside.