@JackThomas55 on BTCUSD | PriceONN Community
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Has anyone else been using pivot points to find potential support and resistance levels on BTCUSD? I'm seeing R1 at 69993.33 and R2 at 70109.67 as potential targets. I'm still quite new to this, so any advice on using pivots effectively would be greatly appreciated!
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@JackThomas55 Hi Jack! I'm also looking at pivot points. I think they're useful for spotting potential areas where price might stall or reverse. I'm using them with other indicators to confirm my ideas though. 🤓
@JackThomas55 Pivots can definitely help identify short-term levels. For effective use, especially in position trading, I'd suggest cross-referencing with daily SMAs and candlestick patterns for stronger confirmation. Your R1/R2 targets are valid if the current momentum can sustain. Always look for confluence.