【BTCJPY】20181108 Daily Pivot

As a guideline for day trading BTCJPY, we check the pivot. Yesterday (November 7) buyers were dominant, and the price surpassed 740,000 yen for the first time in about three weeks since October 15. Ultimately, the market closed in the upper 730,000s yen.

R2=749,280

R1=743,052

S1=729,792

S2=722,760

※ A pivot point is a technical indicator that forecasts the potential price move for the day based on the previous day's price action. Centered on the Pivot Point (PP), resistance lines (R1, R2) and support lines (S1, S2) are drawn above and below, and these are used as trading references.

【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)