Which cryptocurrencies have shown a strong correlation with daily pivot points in the past?

3 answers

• Feb 19, 2022 · 3 years ago
  Certainly! In the past, Bitcoin, Ethereum, and Litecoin have shown a strong correlation with daily pivot points. These cryptocurrencies have often reacted to pivot levels, making them potentially useful for traders who incorporate pivot point analysis into their strategies. It's important to note that correlation does not imply causation, and the relationship between pivot points and cryptocurrency price movements may change over time. Therefore, it's crucial to conduct thorough analysis and consider other factors before making trading decisions based solely on pivot points.
  581291
• Feb 19, 2022 · 3 years ago
  Oh yeah, Bitcoin, Ethereum, and Litecoin have definitely shown some love for daily pivot points in the past! These bad boys have often danced around those pivot levels, giving traders a chance to catch some sweet price movements. But hey, don't forget that correlation ain't always causation, and things in the crypto world can change faster than you can say 'blockchain'. So, while pivot points can be a helpful tool, make sure to do your homework and consider other factors before going all-in based on them, ya know?
  519173
• Feb 19, 2022 · 3 years ago
  Based on historical data, Bitcoin, Ethereum, and Litecoin have exhibited a strong correlation with daily pivot points. These cryptocurrencies have frequently reacted to pivot levels, suggesting that pivot point analysis could be a valuable tool for traders. However, it's important to remember that correlation doesn't guarantee future performance, and the cryptocurrency market is highly volatile. Therefore, it's advisable to combine pivot point analysis with other technical indicators and fundamental analysis to make well-informed trading decisions.
  554139