【BTCJPY】20181003 Daily Pivot

As a guideline for day trading BTCJPY, we check the pivot. Yesterday (October 2) showed strong selling momentum, broke below the 740,000 yen support that had held for the past two days, and closed in the upper 730,000s, indicating the current market environment.

R2=756,272

R1=746,705

S1=730,865

S2=724,592

※ A pivot point is a technical indicator that forecasts the day's price movement based on the previous day's movements. 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 guidelines for trading.

【Formula】

Pivot Point (PP) = (Previous day's close + high + 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)