【BTCJPY】20180824 Daily Pivot

As a guideline for day trading BTCJPY, we check the pivot. Yesterday (August 23) the price rose to the 7,200,000 yen range from almost no move from the opening price, forming a solid bullish candlestick in the market environment.

R2=746,771

R1=735,910

S1=708,248

S2=691,447

※ A pivot is a technical indicator that predicts the potential price change for the day based on the previous day's movements. 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 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)