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Pivot Points BTCUSD Analysis and Pivot Point Trade Signals

This BTCUSD tool has a main pivot point. It sits between three resistance lines below and three support lines above.

Floor traders first used these points to study and trade stock and futures markets. This BTC/USD tool serves as a leading indicator, not a lagging one.

Pivots provide a quick way for traders to analyze and interpret the general bitcoin trend of how the btcusd market is going to be moving during the course of the day. A few simple calculations are used to draw the resistance and support zones.

To calculate these points and levels for the coming day is the previous day's

  • high,
  • low, and
  • close bitcoin prices are used

The trading session concludes at a set time each day, and it is precisely at this daily closing marker that the trading indicator receives its subsequent update.

The 24-hour cycle for this technical indicator uses a pretty complex formula. After that, the central pivot helps you figure out support and resistance levels.

Resistance 3

Resistance 2

Resistance 1

Pivot Points

Support 1

Support 2

Support 3

Pivot points indicator for Bitcoin - Best BTCUSD pivot point combinations

BTC USD Crypto Analysis and Generating Signals

This btcusd indicator can be utilized in a variety of methods to create trade signals. The following techniques are the most frequently employed in technical analysis:

Bitcoin Trend Identification Signals

Traders utilize the central pivot point to ascertain the general market trajectory for Bitcoin: any trades executed will only proceed in alignment with that established trend direction.

  • Buy signal - price is above central pivots point
  • Sell trading signal - price is below central pivots point

Bitcoin Price Breakout Signals

Bitcoin Price breakout signals are derived and generated as follows

  • Buy signal- is generated when the bitcoin price breaks upwards through the central point.
  • Sell signal- is generated/derived when the bitcoin price breaks-out downward through the central point.

Bitcoin Breakouts over Pivot Points - Setting Pivot Points Indicator for Bitcoin

Bitcoin Price Break out

BTCUSD Price Reversal Signal

Bitcoin Price reversals are derived/generated as follows

Buy Signal - when the price of bitcoin decreases toward a support level, then makes contact with that support or dips slightly below before swiftly bouncing back upwards.

Sell Signal- when bitcoin price goes up toward a resistance area, and either touches the resistance or goes a little past it, then quickly turns around and goes down.

Bitcoin Price Reversal – Using Pivot Points for Signal and the Best Indicator Combos

Bitcoin Price Reversal Signal

Placing Stoploss and Limit Profit Values

Traders use the central pivot plus support and resistance to set stop losses and take-profit spots.

Set Stop Loss and Take Profit at Support Levels - Best Pivot Points for BTCUSD

Placing Stoploss and Limit Profit

Place a buy order above the center line. Use Resistance 1 or 2 for take profit. Set Support 1 as stop loss for the Bitcoin trade.

To download Pivot points Indicator:

https://c.mql5.com/21/9/pro4x_pivot_lines.mq4

Once you download it open it with MQL4 Language Editor, Then Compile it by pressing the Compile Button and it will be added to your MT4.

To remove additional lines labeled "Mid Points" from a custom indicator on MetaTrader 4, open MQL4 Language MetaEditor (shortcut key F4) and edit line 16 accordingly.

Extern bool midpivot = true:

To

Extern bool midpivot = false:

Then, press the Compile button again: it will then render and display precisely as shown on this web page.

Study More Tutorials & Lessons:

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