【BTCJPY】20190124 Daily Pivot

As a guide for day trading BTCJPY, we will check the pivot. Yesterday (January 23) showed a sudden shift to a selling momentum, forming a bearish candle. Although it briefly moved above the 5MA, it was pushed back and closed in the late 380,000s range in that market environment.

R2=401,998

R1=395,499

S1=384,000

S2=379,000

※ Pivot points are a technical indicator used to estimate the day's price movement from the previous day's price action. Centered on the Pivot Point (PP), lines for resistance (R1, R2) and support (S1, S2) are drawn above and below, and are used as trading references.

【Calculation formulas】

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

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

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

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

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