【BTCJPY】20190305 Daily Pivot

As a guide for day trading BTCJPY, we check the pivot. Yesterday (March 4) there was strong selling pressure, forming a bearish candlestick. The market closed around the mid-410,000s yen.

R2=431,940

R1=422,905

S1=407,730

S2=401,590

※ A pivot is a technical indicator that estimates the range of price movement for the current day based on the previous day's activity. It centers on the Pivot Point (PP) and draws resistance lines (R1, R2) and support lines (S1, S2) above and below, to use as trading guidelines.

【Calculation formulas】

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

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

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

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

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