Reason, why I like to use Pivot Points in my trading, is simple – they work.

They are in common use since 80s and to this day you can find many examples how effective they can be.

Bitcoin is a good example. There was a strong sell-off on June 26th. I made a short video about it here:

Look where price stopped. Exactly at monthly R3 line:

bitcoin and monthly pivot points

If you were long, this was a good place to set your take profit order.

Now we have July, new monthly pivot lines. Can you see how monthly pivot was a resistance for the price?

That’s why I think that it is a good idea to check Pivots from time to time. They can be a great help in your trading.