What are the advantages and disadvantages of using pivot points strategy in the context of cryptocurrencies?

1 answers

• Mar 22, 2022 · 3 years ago
  As an expert in the cryptocurrency industry, I can say that the pivot points strategy can be a useful tool for traders. It helps identify key levels of support and resistance, which can be used to determine potential entry and exit points. However, it's important to note that pivot points are based on historical data and may not always accurately reflect current market conditions. Traders should use pivot points in conjunction with other technical analysis tools to confirm signals and make informed trading decisions. Overall, the pivot points strategy can be a valuable tool in a trader's arsenal, but it should not be relied upon as the sole indicator for making trading decisions.
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