【BTCJPY】20181115 Daily Pivot

As a guideline for day trading BTCJPY, we check the pivot. Yesterday (November 14) there was a sharp drop forming a long bearish candlestick. It temporarily updated the early-year low and fell to around 600,000 yen, but then recovered to around 650,000 yen, creating a long lower wick in the market environment.

R2=772,897

R1=711,288

S1=594,488

S2=539,297

※ A pivot is a technical indicator that predicts the price movement for the day based on the previous day's moves. 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 Formula】

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)