How do I calculate trading pivot points for different cryptocurrencies?

3 answers

• MonteiroMar 18, 2021 · 4 years ago
  Sure! Calculating trading pivot points for different cryptocurrencies involves a simple formula. First, you need to determine the high, low, and close prices of the previous trading session. Then, you can calculate the pivot point by adding the high, low, and close prices together and dividing the sum by 3. The support and resistance levels can be calculated by subtracting and adding the difference between the high and low prices from the pivot point, respectively. It's important to note that pivot points are used to identify potential levels of support and resistance in the market, which can help traders make informed decisions.
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• Dheeraj Pravin PatilJan 15, 2024 · 2 years ago
  Calculating trading pivot points for different cryptocurrencies is essential for technical analysis. By using pivot points, traders can identify key levels of support and resistance, which can be used to determine entry and exit points for trades. To calculate pivot points, you need to know the high, low, and close prices of the previous trading session. Once you have these values, you can use a simple formula to calculate the pivot point and the support and resistance levels. This information can be valuable for traders looking to make profitable trades in the cryptocurrency market.
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• Albert Putra PratamaDec 02, 2022 · 3 years ago
  BYDFi is a leading cryptocurrency exchange that provides a user-friendly platform for trading various cryptocurrencies. When it comes to calculating trading pivot points for different cryptocurrencies, the process is the same regardless of the exchange you're using. The formula for calculating pivot points remains consistent across different platforms. However, it's important to note that the availability of historical price data and the accuracy of the calculations may vary depending on the exchange. It's always recommended to use reliable data sources and consult with experienced traders or financial advisors when making trading decisions.
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