Which cryptocurrencies have shown a strong correlation with weekly pivot points?

3 answers

• Nov 24, 2021 · 3 years ago
  Certainly! When it comes to cryptocurrencies that have shown a strong correlation with weekly pivot points, Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are among the top contenders. These cryptocurrencies have consistently demonstrated a tendency to follow the support and resistance levels provided by weekly pivot points. It's important to note that while correlation does exist, it is not a guarantee of future price movements. Therefore, it's always advisable to conduct thorough analysis and consider other factors before making any investment decisions.
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• Nov 24, 2021 · 3 years ago
  Sure thing! Based on historical data, some other cryptocurrencies that have exhibited a strong correlation with weekly pivot points include Litecoin (LTC), Bitcoin Cash (BCH), and Cardano (ADA). These cryptocurrencies have shown a tendency to react to the levels provided by weekly pivot points, making them potentially useful for traders who incorporate pivot point analysis into their strategies. However, it's important to remember that correlation does not imply causation, and other factors should be taken into consideration when making trading decisions.
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• Nov 24, 2021 · 3 years ago
  According to a recent analysis conducted by BYDFi, a digital currency exchange, the cryptocurrencies that have shown a strong correlation with weekly pivot points are Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). These cryptocurrencies have consistently exhibited price movements that align with the support and resistance levels provided by weekly pivot points. Traders who utilize pivot point analysis may find these cryptocurrencies particularly interesting for their trading strategies. However, it's essential to conduct thorough research and consider other factors before making any investment decisions.
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