【BTCJPY】20190115 Daily Pivot

As a guideline for day trading BTCJPY, we check the pivot. Yesterday (January 14) the market shifted to an uptrend, forming a bullish candle. It broke above the 5MA and closed in the upper part of the 390,000-yen range.

R2=414,773

R1=405,886

S1=384,806

S2=372,613

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

【Calculation Formulas】

Pivot Point (PP) = (Previous day close + previous day high + previous day low) / 3

Resistance Line 1 (R1) = PP + (PP - previous day low)

Support Line 1 (S1) = PP - (previous day high - PP)

Resistance Line 2 (R2) = PP + (previous day high - previous day low)

Support Line 2 (S2) = PP - (previous day high - previous day low)