【BTCJPY】20190222 Daily Pivot

As a guideline for day trading BTCJPY, we check the pivot. Yesterday (February 21) there was strong selling pressure, forming a bearish candle. Despite an early move above 440,000 yen from the week's upward trend, the market retraced and closed in the low 430,000s.

R2=445,708

R1=438,946

S1=426,976

S2=421,768

※ A pivot is a technical indicator that forecasts the range of price movement for the current day based on the previous day's activity. Centered on the Pivot Point (PP), draw resistance lines (R1, R2) and support lines (S1, S2) above and below, and use them as trading references.

【Calculation formulas】

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)