What are the best pivot point frame strategies for cryptocurrency trading?

1 answers

• Dec 25, 2021 · 3 years ago
  When it comes to pivot point frame strategies for cryptocurrency trading, there are several approaches that can be effective. One popular strategy is the daily pivot point strategy, which involves calculating the pivot point, support, and resistance levels based on the previous day's price action. Traders can use these levels to identify potential entry and exit points for their trades. Another strategy is the weekly pivot point strategy, which involves calculating the pivot point, support, and resistance levels based on the previous week's price action. This strategy can help traders identify longer-term trends and potential reversal points. Additionally, intraday pivot point strategies can be used for shorter-term trading. These strategies involve calculating pivot points, support, and resistance levels based on shorter timeframes, such as hourly or 15-minute charts. Traders can use these levels to identify intraday trends and potential breakout or breakdown points. However, it's important to note that pivot points should not be used as the sole basis for trading decisions. They should be used in conjunction with other technical analysis tools and indicators to confirm signals and identify trends. It's also important to consider market conditions, news events, and risk management when using pivot points in cryptocurrency trading.
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