Bitcoin entry is super easy! The reason you only need a free pivot indicator

"Bitcoin Entry Is Easy! How to Use Pivot Indicators and the Importance of 'Location Information'"

Hello, this is Neko-kai from the Trading Ideas Lab.

Lately, Bitcoin liquidity has risen significantly. As market participants increase, regularities in trading also become more apparent. Why is that? Because many people look at the same chart and move at roughly the same timing, saying “buy!” or “sell!”

What happens when regularity increases? Technical analysis becomes more effective. Technical analysis is, in a sense, a set of “agreements that everyone believes in,” so as more participants join, those agreements tend to function more reliably.

But here comes the challenge many face.

“I can’t figure out the timing of entries!”

This is one of traders’ three major concerns. The other two are “struggling with money management” and “unable to cut losses,” but today we’ll focus on the timing of entries.

You’ve had the experience of “losing because your timing wasn’t right,” right? But you know what? It’s actually super easy.

If you use pivot indicators, the timing becomes clear instantly!

If you don’t know when to enter, use TradingView’s Pivot Indicator!

The method is simple.

1. Open TradingView (free is fine)
2. In the indicator search window, type “Pivot,” and you’ll see Pivot Points Standard.
3. Just click it.

This will display the “Pivot Points” on the chart.
• PP (Pivot) is the entry point.
• R1, S1, R2, etc. appear, but you’re fine with just P!

Hide R1 (Resistance 1) and S1 (Support 1). When there’s too much information, people tend to misjudge.

When price touches this “PP,” just enter quickly.

No Dow Theory or Elliott Wave needed! Pivot is enough!

“Eh, is that really all?” you might think.

Yes. The world talks up Dow Theory and Elliott Wave, and of course knowledge of them isn’t harmful. However, early in trading you won’t win much by trying to memorize those theories.

The reason is simple: there is too much information.

For example, in Dow Theory, it says “if highs are rising, the trend continues,” but when it comes to trading, you freeze: “Was that a rise? Or is it a pullback? Or a trap?”

This is common, right?

So, it’s simpler and clearer to just consider the Pivot Point’s “PP.”

But this alone won’t guarantee winning. Why?

Now, an important discussion.

“Can you win just by looking at Pivot PP and entering?”

The answer is NO.

Because you’re missing the “environment recognition.”

Trading is extremely about understanding where the market is headed. This is called “location information.”

For example, suppose you’re traveling.

• If your destination is Okinawa, you’d bring T-shirts and shorts, right?
• But if you’re going to Sapporo Snow Festival, you’ll need a down jacket.

This is the “environment recognition.” If you don’t know where you are now and where you’re going, you’ll choose the wrong gear.

Trading is the same.

If you enter at Pivot Points without knowing whether the current market is strong or weak, you won’t win. Because when the market is strong, it may move on without touching the pivot.

So what should you do?

Don’t worry. There is a method.

Just understand “environment recognition” and “location information.”

Specifically, check these two things:

1. Look at the weekly chart direction (is the weekly trend up or down?)
2. Check whether the current price is near the weekly high or low

If you know these two, you’ll see whether the market is headed up or likely to pull back a bit.

Even if Pivot P is a “buy point,” if the weekly chart is in a downtrend, touching P could become a “sell point.”

In other words, without environment recognition, you won’t know when to exit after entering.

Summary

• Entry is fine at Pivot Point “P”!
• Hide R1 and S1 for simplicity!
• Dow Theory and Elliott Wave are unnecessary (informative, but not essential)!
• Don’t forget environment recognition! Location information is extremely important!

Trading is best kept simple.

People say “Pivot alone won’t win,” but that’s only because environment recognition is lacking. Conversely, with proper environment recognition, you can win with pivots alone.

Please try this in your next trade.

“Oh, here is PP. Then entry!”

This simple line could dramatically change your trading.

Well then, see you in the next lecture!