Which pivot points are best for intraday trading in the cryptocurrency market?

3 answers

• Dec 27, 2021 · 3 years ago
  Pivot points are widely used by traders in the cryptocurrency market for intraday trading. The most commonly used pivot points are the daily pivot points, which are calculated based on the previous day's high, low, and close prices. These pivot points can help identify key support and resistance levels, which are important for making trading decisions. Traders often use pivot points in conjunction with other technical indicators to confirm their trading signals. It's important to note that pivot points are not a guaranteed strategy for success, but they can be a useful tool in the cryptocurrency market.
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• Dec 27, 2021 · 3 years ago
  When it comes to intraday trading in the cryptocurrency market, there is no one-size-fits-all answer to which pivot points are the best. Different traders have different strategies and preferences. Some traders prefer to use Fibonacci pivot points, which are calculated based on Fibonacci retracement levels. Others may prefer to use Camarilla pivot points or Woodie's pivot points. It's important to experiment with different pivot point calculations and see which ones work best for your trading style. Remember to always combine pivot points with other technical analysis tools for better accuracy.
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• Dec 27, 2021 · 3 years ago
  At BYDFi, we recommend using the standard daily pivot points for intraday trading in the cryptocurrency market. These pivot points are widely accepted and used by traders around the world. They provide a good starting point for identifying support and resistance levels. However, it's important to note that pivot points are just one tool in a trader's toolbox. To make profitable trades, it's crucial to combine pivot points with other technical indicators, such as moving averages, volume analysis, and trend lines. Always do your own research and analysis before making any trading decisions.
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