【BTCJPY】20180204 Daily Pivot

As a guideline for day trading BTCJPY, we check the pivot. Yesterday (February 3) the selling was dominant, forming a bearish candle. The upward momentum that had been continuing since February 1 weakened, unable to recover to the 380,000 yen range, and the market closed in the mid-370,000 yen range.

R2=383,619

R1=378,657

S1=369,691

S2=365,687

※ Pivot is a technical indicator that estimates the price movement for the day from the previous day's price action. Centered on the Pivot Point (PP), resistance lines (R1, R2) and support lines (S1, S2) are drawn above and below, and they are used as trading guidelines.

【Calculation Formula】

Pivot Point (PP) = (Previous Day's Close + Previous Day's High + Previous Day's Low) / 3

Resistance Line 1 (R1) = PP + (PP - Previous Day's Low)

Support Line 1 (S1) = PP - (Previous Day's High - PP)

Resistance Line 2 (R2) = PP + (Previous Day's High - Previous Day's Low)

Support Line 2 (S2) = PP - (Previous Day's High - Previous Day's Low)