Daily high-quality updates, spend your precious two seconds 👆 click to follow and don’t get lost
🔹Reviews of Cognitive Society
The highest point of Bitcoin's rebound on June 28, 62,400, coincides with the pressure point of 62,400 in yesterday's Cognition Society article.
Bitcoin's weak rebound and negative decline make it difficult for copycats to continue to move forward. People have an inherent fear of the impact of Bitcoin.
Discuss the pros and cons before entering the game
No discussion of pros and cons after entering the game
Talk about gains and losses after entering the game
Unless you are holding Bitcoin, you can reduce your position a little when it rebounds, and make up for the sharp drop. But there is no need to operate Ether, because the Ethereum spot ETF will be traded soon, maybe in August or September, but you have waited for 3 years, so why do you have to worry so much about a few months?
Be patient and wait, there is no other choice.
There is still some time before the Ethereum spot ETF is open for trading, so every time there is a sharp drop in Ethereum, it is the first thing to consider.
🔹The K-line spirit of cognitive society
Many new fans feel that the articles of Cognition Society do not directly predict the rise or fall of the market, which affects the chances of making money by playing contracts. The principle of Cognition Society is to play more spot in a bull market. We do not over-judge the rise or fall of short-term prices. This is not Tai Chi, but Cognition Society has its own principles.
Cognitive Society does not know when Bitcoin will plummet, but we remind ourselves that every time Bitcoin plummets, it is an opportunity. We enter the market when Bitcoin plummets and deploy our favorite Ethereum UNI and hot altcoins.
Therefore, if you hold 8 layers of positions, you should control your positions to around 7 layers when Bitcoin accelerates its rise. In the bull market, don't fantasize about shorting your positions every time Bitcoin plummets.
——————————————
Bitcoin spot ETF had a total net inflow of $11.7997 million yesterday, and the ETF net asset ratio reached 4.38%
📍Cognition Society Interpretation: Bitcoin spot ETF determines the price of Bitcoin, and Bitcoin has been abnormally weak recently
A Proposed Bitcoin and Gold Leveraged ETF Will Launch on September 9
On June 28, according to The Block, a proposed ETF submitted a prospectus on Thursday, aiming to allow traders and investors to invest in both Bitcoin and gold without having to buy either asset. STKD STKD Bitcoin&Gold ETF was jointly launched by Tidal Investments and Quantify Chaos Advisors, aiming to provide exposure to both Bitcoin and gold through Bitcoin futures and ETFs and gold futures and ETFs. According to the prospectus, by mixing low-correlated assets, the fund aims to reduce the impact of short-term market fluctuations on overall investment results and may provide more stable investment returns. The ETF will use leverage and will not invest directly in Bitcoin or other digital assets, nor will it invest directly in gold or gold bars. The document specifies that the ETF will take effect on September 9, 2024, but does not include a stock code or any related fees.
📍Interpretation by Cognitive Society: It’s meaningless.
U.S. core PCE monthly rate in May supports the Fed's interest rate cut later this year
The Fed's preferred measure of underlying U.S. inflation slowed in May, supporting the Fed's case for a rate cut later this year. The core PCE, which excludes volatile food and energy items, rose 0.1% month-on-month, the smallest gain in six months. The core PCE price index in May rose 2.6% year-on-year, the lowest since early 2021. Real personal consumption expenditures adjusted for inflation rose 0.3% month-on-month, and personal income rose 0.5% month-on-month. (
📍Interpretation of Cognitive Society: Hopefully there will be a rate cut in September.
JPMorgan: Mt. Gox creditors expected to sell some of their Bitcoin receivables next month
Analysts at JPMorgan Chase said that Mt.Gox creditors are expected to sell some of their Bitcoin receivables next month, which may initially put pressure on the crypto market (while it is ongoing), but the market may recover from August as FTX creditors also expect to receive repayments in the coming months. Analysts further stated that these repayments from FTX may support the crypto market, and creditors may reinvest funds in crypto assets. (The Block)
📍Interpretation of Cognitive Society: It is better to face it sooner rather than later.
🔹Summary: The biggest factor affecting the market is the compensation plan of Mentougou. Every time Bitcoin plummets, it is an opportunity for Ethereum to enter the market.
There is no destructive negative news. Bitcoin 56600 is likely to be the bottom area of the third historical bottoming out.
May 2024 is the mid-term of the bull market for Bitcoin and Ethereum. Every plunge is an opportunity. Long-term K-line research focuses on Ethereum UNI OP NEAR BLUR and Link Bread;
🔹Short-term data
Disclaimer: The K-line data analysis provided by Cognitive Society is based on data analysis, does not represent any position, and does not confiscate any project party a penny.
🏷Bitcoin
Support: 60000 58000
Pressure level: 62000 63000
🏷Ethereum
Under pressure from 3480, it may fall back to around 3300
Ethereum has the protection of Ethereum spot ETF. Even if Bitcoin plummets, Ethereum's 3000 is still a super strong support level.
If the Ethereum spot ETF is traded in August, there are still 2 months left
Focus for the next six months
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 3460 3490
Support: 3380 3310
🏷LINK
It's too much if you don't even touch 14.8
13 11 is an important support level
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
Support bank cards did not rise, the selling pressure of 10 is a bit too much
Pressure level: 9.6 10
Support level: 9 8.5
🏷️BLUR
We escaped at 0.8, but are still stuck at 0.4
Waiting for Spring
Cognition Society believes that BLUR is below 0.38 and some long-term investments should be allocated in batches
🏷OP
2 Unexpectedly... can't touch
Cognition Society was the only one who reminded us to upgrade Cancun when the OP bottom was around 1.3.
Pressure level: 1.85 2
Support: 1.68 1.6
🏷️
The highest score of 29 is in line with expectations and is one of the strongest copycats
🏷ARB
Only when it stands firmly at 0.85 can it avoid a sharp drop, and only when it stands firmly at 1 can it stabilize
Cognition Society believes that the layout below "ARB" 1 is carried out in batches
🏷CRV
0.26 0.23 should have a big rebound
CRV is backed by the main force, and the sharp drop can be watched
🏷️UN
2.8 plummeted and can be recovered near 2.1
🏷️TREES
0.011 plummeted, let's see if there is a chance to get around 0.09
🏷️TNSR
0.77 0.71 Support
0.86 0.93 is the key pressure point
🏷️SUN
SUN
140 128 support
🏷️WIF
2.2 is a strong pressure point, don't chase high, there should be a big pullback
🏷1000RATS
Super strong rebound, but this guy rises and falls by multiples.....................
0.15 0.2 is a strong pressure point
1000RATS rebounds to near cost and reduces positions. After reducing positions, reduce the proportion of long-term positions. The fluctuation is too large and most people cannot bear it.
Others, wait for more updates
🔹Understanding attitude towards making money
Cognitive Society does not like hindsight
I don’t like those KOLs who claim that they can make a lot of money.
If someone in the cryptocurrency circle could profit from the rise and fall of every coin
Leverage is not about making 10 billion a year
But the second largest exchange on earth saw the market makers manipulate the market, and it only lost billions and went bankrupt.
Form your own trading system and make money within your own cognitive scope. Don't fantasize about making money from every daily rise and fall, let alone the rise and fall of every coin. This person does not exist on the earth, nor does this kind of organization. If such an organization existed, FTX, the exchange that looks after the main backstage, would not have gone bankrupt.
Desire and ability are not equal
The heart can never be at peace
How can you hold on to the coins if you are not calm inside?
Many people always like to rely on other people's promises and guarantees to hold on to their coins when the market crashes.
Banks are going bankrupt. Even some big countries’ fiat currencies are going bankrupt. Evergrande and Zhongzhi Group are bankrupt with tens of trillions of dollars.
Do you think people who promise returns can be trusted in such a high-risk place like the crypto industry?
The charlatan is just talking nonsense. As for the real crash and bear market, have you ever seen those people who promote the bull market every day?