What is the best method to calculate pivot points for digital currencies?

1 answers

• Lee JuneOct 04, 2023 · 2 years ago
  At BYDFi, we recommend using the standard pivot point formula to calculate pivot points for digital currencies. This formula takes into account the high, low, and closing prices from the previous trading session and provides a good starting point for determining support and resistance levels. However, it's important to note that pivot points should not be used as the sole basis for making trading decisions. They should be used in conjunction with other technical indicators and analysis techniques to confirm trends and identify potential entry and exit points. Remember, successful trading requires a comprehensive approach that takes into account multiple factors and strategies.
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