I have observed that majority of the cryptocurrency traders who work for institutions like hedge fund, use the principles of Pivot point in analysing price movement of Bitcoin.
I have personally applied these principles as well, thereby giving me an edge in the cryptocurrency market.
I therefore recommend that as a cryptocurrency trader or even an investor, you should include the application of Pivot Point in your analysis. Pivot point helps a trader to:
1. know the daily, weekly and monthly price range.
2. know the daily, weekly and monthly traders' bias.
3. buy at the most cheaper price and sell at the most profitable price.
If you're a lover or you're interested in the application of Pivot point to cryptocurrency trading, especially
BTC then you always look out for my daily published ideas.
Now, this is my idea aboutBTC for the month of April and this week from Pivot point perspective.
1. TheBTC is currently trading above its Monthly Pivot Point (MPP). The MPP is at the price of $6,533.3, which favours buy orders and profit taking should target Monthly Pivot Resistance 1 (MPR1) at $9075.5.
2. TheBTC is also currently trading above its Weekly Pivot Point (WPP). The WPP is at the price of $6,608.7, which also favours buy orders and profit taking should target Weekly Pivot Resistance 1 (WPR1) at $7,345.4. Note that BTC has already tested its WPR1 on Monday 16th.
3. I do not seeBTC advancing beyond its WPR1 for the rest of the days in this week. The reason is because, Pivot Point Resistance 1 either for Daily, Weekly or Monthly is the most important price area. The same is true for the Pivot Point Support 1.
4. At the beginning of the month, concentrate on the Monthly Pivot Point areas to know the market sentiment for the month.
5. At the beginning of the week, concentrate on the Weekly Pivot Point areas to know the market sentiment for the week.
6. Once price has tested either the the WPR1 or WPS1, you should concentrate on the Daily Pivot Point areas to analyze daily sentiment if you wish to trade intraday.
If you find my idea satisfying, kindly give it a like. Thank you.
I have personally applied these principles as well, thereby giving me an edge in the cryptocurrency market.
I therefore recommend that as a cryptocurrency trader or even an investor, you should include the application of Pivot Point in your analysis. Pivot point helps a trader to:
1. know the daily, weekly and monthly price range.
2. know the daily, weekly and monthly traders' bias.
3. buy at the most cheaper price and sell at the most profitable price.
If you're a lover or you're interested in the application of Pivot point to cryptocurrency trading, especially
BTC then you always look out for my daily published ideas.Now, this is my idea about
BTC for the month of April and this week from Pivot point perspective.1. The
BTC is currently trading above its Monthly Pivot Point (MPP). The MPP is at the price of $6,533.3, which favours buy orders and profit taking should target Monthly Pivot Resistance 1 (MPR1) at $9075.5.2. The
BTC is also currently trading above its Weekly Pivot Point (WPP). The WPP is at the price of $6,608.7, which also favours buy orders and profit taking should target Weekly Pivot Resistance 1 (WPR1) at $7,345.4. Note that BTC has already tested its WPR1 on Monday 16th.3. I do not see
BTC advancing beyond its WPR1 for the rest of the days in this week. The reason is because, Pivot Point Resistance 1 either for Daily, Weekly or Monthly is the most important price area. The same is true for the Pivot Point Support 1.4. At the beginning of the month, concentrate on the Monthly Pivot Point areas to know the market sentiment for the month.
5. At the beginning of the week, concentrate on the Weekly Pivot Point areas to know the market sentiment for the week.
6. Once price has tested either the the WPR1 or WPS1, you should concentrate on the Daily Pivot Point areas to analyze daily sentiment if you wish to trade intraday.
If you find my idea satisfying, kindly give it a like. Thank you.
Nota
Note that the published chart has nothing to do with the above idea. I will post charts showing price areas for Pivot point in my subsequent publication. In the main time, I welcome all your questions and contributions.Nota
If you're curious about today's intraday sentiment, see my thought under the idea of @Kinnari_Prajapati. Thanks.Nota
Here's exactly what I posted, in case you find it difficult to search."I think price will break down to $7,130 - $7,000 price area. This is the price of Daily Pivot Support 1, once price is able to close below the Daily Pivot Point at $7270.8."
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.