【BTCJPY】20190308 Daily Pivot

As a guideline for day trading BTCJPY, we check the pivot. Yesterday (March 7) the bulls and bears were evenly matched and it stayed range-bound. The price briefly rose toward the previous day's high but closed in the low 430,000s, indicating a market environment in that range.

R2=437,172

R1=433,636

S1=427,227

S2=424,354

※ Pivot refers to a technical indicator that predicts the range of price movement for the day based on the previous day's price action. Centered around the Pivot Point (PP), resistance lines (R1, R2) and support lines (S1, S2) are drawn, and traders use them as trading guides.

[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)