What is the definition of pivot point in the context of cryptocurrency trading?

3 answers

• Jensen LowJan 16, 2023 · 3 years ago
  Pivot point in cryptocurrency trading refers to a technical analysis indicator that is used to determine potential support and resistance levels. It is calculated based on the high, low, and closing prices of the previous trading period. Traders use pivot points to identify key price levels where the market may reverse or experience a significant movement. By analyzing pivot points, traders can make informed decisions about entry and exit points, as well as set stop-loss and take-profit levels. It is important to note that pivot points are not a guaranteed prediction of market movements, but rather a tool to assist in decision-making.
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• techieDec 27, 2023 · 2 years ago
  In cryptocurrency trading, pivot point is a term used to describe a specific price level that is considered significant in determining market trends. It is calculated using a formula that takes into account the previous day's high, low, and closing prices. Pivot points are often used by traders to identify potential areas of support and resistance, as well as to determine entry and exit points for trades. They can also be used to set stop-loss and take-profit levels. However, it's important to remember that pivot points are just one tool among many in a trader's arsenal, and should not be relied upon solely for making trading decisions.
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• Alone KhanDec 24, 2020 · 5 years ago
  Pivot point in cryptocurrency trading is a technical analysis indicator that helps traders identify potential levels of support and resistance. It is calculated using the previous day's high, low, and closing prices. Traders use pivot points to determine key price levels where the market may change direction. These levels can be used to set entry and exit points for trades, as well as to place stop-loss and take-profit orders. Pivot points are widely used in technical analysis and can be a valuable tool for traders looking to make informed decisions based on price action.
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