What is a pivot point in cryptocurrency trading?

3 answers

• Dec 17, 2021 · 3 years ago
  A pivot point is a technical analysis indicator used in trading to determine potential support and resistance levels. It is calculated based on the previous day's high, low, and closing prices. Traders use pivot points to identify key price levels where the market may reverse or break out. By analyzing pivot points, traders can make informed decisions about entry and exit points for their trades. It is important to note that pivot points are just one tool among many used in cryptocurrency trading strategies.
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• Dec 17, 2021 · 3 years ago
  In cryptocurrency trading, a pivot point is a level at which the market sentiment may change from bullish to bearish or vice versa. It is a key support or resistance level that traders use to make trading decisions. When the price of a cryptocurrency reaches a pivot point, it can either bounce off and continue in the same direction or break through and reverse its trend. Traders often use pivot points in conjunction with other technical indicators to confirm their trading signals and increase their chances of success.
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• Dec 17, 2021 · 3 years ago
  A pivot point is a widely used indicator in cryptocurrency trading. It is calculated by taking the average of the previous day's high, low, and closing prices. Pivot points are used to identify potential levels of support and resistance in the market. When the price of a cryptocurrency approaches a pivot point, it is considered a critical level that can influence the direction of the market. Traders often use pivot points to set their stop-loss orders and take-profit levels. By paying attention to pivot points, traders can better understand the market dynamics and make more informed trading decisions.
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