【BTCJPY】20181129 Daily Pivot

As a basis for day trading BTCJPY, we check the pivot. Yesterday (November 28), the buyers were strong, breaking above the 5MA and rising to around 500,000 yen. It recovered almost all of the drop from the 24th and formed a solid bullish candlestick in the market environment.

R2=534,650

R1=507,817

S1=442,134

S2=403,284

※ Pivot is a technical indicator that forecasts the range of price movement for the current day based on yesterday's price action. The pivot point (PP) is used as the center, with resistance lines (R1, R2) above and support lines (S1, S2) below, and traders use these as trading guides.

【Calculation formulas】

Pivot Point (PP) = (Yesterday's close + yesterday's high + yesterday's low) / 3

Resistance Line 1 (R1) = PP + (PP - yesterday's low)

Support Line 1 (S1) = PP - (yesterday's high - PP)

Resistance Line 2 (R2) = PP + (yesterday's high - yesterday's low)

Support Line 2 (S2) = PP - (yesterday's high - yesterday's low)