How do I calculate pivot points for Bitcoin trading?

3 answers

• FARHAAN SAYYADAug 19, 2023 · 2 years ago
  Calculating pivot points for Bitcoin trading involves using the previous day's high, low, and close prices. The most commonly used formula is the Standard Pivot Point formula, which is (High + Low + Close) / 3. This will give you the pivot point for the current day. From there, you can calculate support and resistance levels using different formulas like Fibonacci or Woodie's pivot points. It's important to note that pivot points are just one tool in technical analysis and should be used in conjunction with other indicators and analysis techniques.
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• GirishJan 08, 2022 · 4 years ago
  To calculate pivot points for Bitcoin trading, you need to have the previous day's high, low, and close prices. The pivot point is calculated by adding the high, low, and close prices together and dividing by 3. This gives you the pivot point for the current day. Support and resistance levels can then be calculated using different formulas. It's important to remember that pivot points are not a guaranteed prediction of price movement, but they can provide valuable insights into potential levels of support and resistance.
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• ajith asthaJul 22, 2024 · a year ago
  Calculating pivot points for Bitcoin trading is an essential part of technical analysis. At BYDFi, we provide a built-in pivot point calculator on our trading platform. Simply input the previous day's high, low, and close prices, and our platform will automatically calculate the pivot point, as well as support and resistance levels. Pivot points can be used to identify potential entry and exit points for trades, as well as levels to set stop-loss orders. They are a widely used tool among traders and can help inform trading decisions.
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