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🔹Reviews of Cognitive Society
Bitcoin's lowest point on June 30 was 60,000, which perfectly matches the support level in yesterday's article.
The highest point of Bitcoin's rebound on June 29, 62,400, coincides with the pressure point of 62,400 in yesterday's Cognition Society article.
Bitcoin is almost stagnant
Most of the copycats have also cooled down
If you want to complete the monthly retracement, it is better to do it all at once and end June immediately.
If the market wants to recover, nothing is more meaningful than the start of trading of Ethereum spot ETF, because the confidence of Ethereum can be sorted out.
What we need to do now is to wait patiently. Most people in the cottage industry are deeply trapped.
The bands have almost no meaning
Talking about bottom-fishing and copycats, Cognitive Society is also scared. The bottom line of this round of market is too low. Binance's new coin SAGA fell 6 times without any rebound.
Waiting for Spring
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 have direct bullish or bearish opinions, 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 and 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.
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Bitcoin spot ETF had a total net inflow of US$73.0454 million yesterday, continuing its net inflow for 4 consecutive days
📍Interpretation of Cognition Society: In fact, I prefer a large outflow of Bitcoin spot ETFs. Only when the price drops to the right level can the altcoin rebound. I am not afraid of falling, but I am afraid of falling.
US judge allows SEC to proceed with most of its lawsuit against Binance, including unregistration and fraud charges
On June 29, a federal judge dismissed part of the U.S. Securities and Exchange Commission's (SEC) lawsuit against cryptocurrency trading platform Binance and its founder Changpeng Zhao. The SEC's initial token offering and BNB's ongoing sales, BNB Vault, pledge services, unregistered and fraud charges against Binance can continue. The judge approved Binance and Changpeng Zhao's motion to dismiss charges related to secondary market BNB sales and Simple Earn.
📍Interpretation of Cognition Society: Rights are wonderful, one layer at a time.
The U.S. Treasury Department released the 2025 crypto tax system, and the rules related to DeFi and non-custodial wallet providers were temporarily shelved
The U.S. Treasury Department's Internal Revenue Service released the 2025 cryptocurrency transaction tax system, which aims to establish filing rules for digital asset brokers, but the relevant rules for DeFi and non-custodial wallets have been temporarily shelved. The agency believes that mainstream crypto platforms that handle the "vast majority" of transactions can no longer wait for rules, but other issues require more research and will formulate corresponding rules "later this year."
The newly released tax rules will take effect for transactions starting in 2025 and require brokers to closely monitor the cost basis of customer tokens starting in 2026. The new rules for cryptocurrency brokers require trading platforms, custodial wallet services, and digital asset exchange platforms to submit disclosures about changes and gains in customer assets. These assets will also include (in very limited circumstances) stablecoins such as USDT, USDC, and high-value NFTs, although the IRS has explicitly refused to resolve the long-standing debate over whether tokens should be considered securities or commodities.
Under the new rules, the IRS will not require reporting of most routine stablecoin sales and sets an annual threshold of $600 for NFT gains, which must be reported.
📍Interpretation of Cognitive Society: The best way is to issue it as soon as possible. If it cannot be avoided, it is better to face it as soon as possible.
US District Court Rejects SEC’s Argument That BNB Secondary Sales Are Securities
On June 29, the U.S. District Court for the District of Columbia rejected the U.S. SEC’s argument that BNB’s secondary sales were securities.
📍Interpretation of Cognition Society: If this judgment is established, many counterfeit securities are not securities.
🔹Summary: Bitcoin is weak, and every Bitcoin crash 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
On June 29, Ethereum hit the lowest point of 3360 and was close to the support level of 3380 in yesterday’s article. 3480 is a strong short-term pressure point.
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: 3420 3470
Support: 3350 3300
🏷LINK
13.6 11.6 support level
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
8.6 is an important support level. If it fails to hold, it may fall further.
Pressure level: 9.2 9.8
Support: 8.8 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: 1.66 1.6
🏷️
There is a lot of selling pressure around 30, which is the key pressure point
🏷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 to 2.3 at the lowest. If you reduced your position at 2.8, you can pay attention again at 2.3 or 2.1
🏷️TREES
The lowest is 0.0096, the decline is not big, and it has not stabilized yet
🔹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?
