【BTCJPY】20190111 Daily Pivot

As a guideline for day trading BTCJPY, we check pivots. Yesterday (January 10) there was strong selling pressure, forming a solid bearish candle. The market environment closed in the early 390,000 yen range, having significantly dropped below the 5-MA and 25-MA.

R2=452,490

R1=423,183

S1=376,784

S2=359,692

※ A pivot is a technical indicator that predicts the price movement for the day based on the previous day's price action. Centered on the Pivot Point (PP), draw the resistance lines (R1, R2) above and the support lines (S1, S2) below, and use them as trading references.

【Calculation 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)

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