【BTCJPY】20190205 Daily Pivot

As a guideline for day trading BTCJPY, we check pivot points. Yesterday (February 4) buyers and sellers were evenly matched and the price moved little. The market environment marginally rebounded from the previous bearish candle and closed in the mid-370,000s yen.

R2=378,897

R1=376,709

S1=372,336

S2=370,151

※ A pivot point is a technical indicator used to forecast the range of price movement for the day based on the previous day’s activity. Centered on the Pivot Point (PP), resistance lines (R1, R2) and support lines (S1, S2) are drawn up and down, and they are used as reference points for trading.

【Calculation Formula】

Pivot Point (PP) = (Previous day close + Previous day high + Previous day low) / 3

Resistance Line 1 (R1) = PP + (PP - Previous day low)

Support Line 1 (S1) = PP - (Previous day high - PP)

Resistance Line 2 (R2) = PP + (Previous day high - Previous day low)

Support Line 2 (S2) = PP - (Previous day high - Previous day low)

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