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What are pivot points in crypto trading?

Such an approach provides the traders with a clear framework to plan their trading. The Pivot Point levels are static until the start of the next trading session. Pivot Points’ main advantage is that they provide objective support and resistance levels that are not merely random lines on the crypto chart.

Why do crypto enthusiasts need pivot points?

Active crypto enthusiasts will often rack up losses, only to realize all they lack is a sense about market direction. Well, pivot points come in handy for deciphering these challenges, mainly for entering and exiting positions.

How to determine a pivot point for Bitcoin (BTC)?

Based on the average price, they indicate levels of support and resistance. Consider a crypto trader who wants to determine the usual pivot points for Bitcoin ( BTC) based on the previous day’s high, low and close prices. The pivot point at $59,166.67 might be used by traders as a benchmark for the future trading day.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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