How to calculate pivot points for cryptocurrency trading?

1 answers

• Dec 27, 2021 · 3 years ago
  Calculating pivot points for cryptocurrency trading is a valuable technique for identifying potential support and resistance levels. Pivot points are calculated using the high, low, and close prices from the previous trading period. The most commonly used formula is the Standard Pivot Point formula, which involves taking the average of these three prices. Once you have the pivot point, you can calculate the support and resistance levels by using multiples of the pivot point. These levels can help you identify potential entry and exit points for your trades. However, it's important to note that pivot points should not be used in isolation. They should be used in conjunction with other technical indicators and analysis to make well-informed trading decisions. It's also worth mentioning that different traders may use different formulas and variations of pivot points, so it's important to find a method that works best for you.
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