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🔹Reviews of Cognitive Society
On August 20, Bitcoin fell back to the lowest point of 57,700, which perfectly matched the support level of 57,700 in the Cognition Society article yesterday.
Bitcoin rebounded to 61400 on August 20.
When the market crashed, Cognitive Society repeatedly reminded:
As long as Bitcoin holds 57,700, it will continue to move towards 60,000
The highest level of 61400 is also in line with the 62000 strong pressure level expected by Cognitive Society. The current pressure level of Bitcoin is 61500-64000.
Why 64,000? Because it has been around 62,000 too many times, I guess many people will short Bitcoin here, so it is normal if it rises sharply to 64,000.
The fundamental influence on the trend in the next few months is the speech of the Fed Chairman on August 23, because the intensity and frequency of each interest rate cut are fundamental. If the interest rate is cut by 50 points in September, Bitcoin will soar with its eyes closed.
All we can do is to pay attention to Ethereum when Bitcoin plummets, and wait for Ethereum's performance.
🔹The K-line spirit of cognitive society
Many new fans feel that the articles in Cognition Society do not directly predict the rise or fall of prices, which will affect their fortune. The principle of Cognition Society is to focus on spot trading 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.
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Yesterday (August 19, Eastern Time), the total net inflow of Bitcoin spot ETFs was US$61.9803 million.
Yesterday (August 19, Eastern Time), the Ethereum spot ETF had a total net outflow of US$13.517 million.
Grayscale transferred 7785 ETH to Coinbase Prime address 10 minutes ago
10 minutes ago, Grayscale transferred 7785 ETH to Coinbase Prime address, worth about 20.51 million US dollars
📍Cognition Society Interpretation: Grayscale is too slow. Cognition Society is not afraid of Ethereum plummeting, but is afraid that Grayscale will sell too little. 1.8 million Ethereum, 8,000 a day..........
60% of the world's top 25 hedge funds have disclosed their Bitcoin ETF holdings
According to Bitcoin Magazine, 60% of the world's top 25 hedge funds have disclosed their Bitcoin ETF holdings. Among them, Millennium Mgmt. holds 27,263 BTC, with 1,429 new BTC this quarter; G.S. Asset Mgmt. holds 6,202 BTC, with 6,202 new BTC this quarter; Schonfeld Str. Advsrs. holds 6,734 BTC. (Foresight News)
📍Cognition Society Interpretation: Cognition Society believes that the second round of Bitcoin bull market is due to the huge increase in funds. As long as the United States cuts interest rates, there will be more money.
U.S. recession fears are fading, good news for crypto risk markets
Data released on Tuesday from a U.S. nonprofit and nonpartisan research institute showed that U.S. economic indicators still point to a slowdown but no longer suggest a recession. This is a positive signal for risk assets including cryptocurrencies.
The organization's Leading Economic Indicator (LEI) fell 0.6% in July to 100.4 after falling 0.2% in June. The indicator peaked in the second quarter of 2022 and has been declining since then. The LEI includes several forward-looking indicators such as average weekly hours worked in the manufacturing sector, average weekly initial unemployment insurance claims, the ISM new orders index, stock prices, and the leading credit index.
It helps identify changes in economic trends and turning points in financial markets and is considered one of the most reliable signals for predicting a recession – defined as two consecutive quarters of contraction in economic growth. A sustained decline in the LEI suggests that the economy faces upcoming headwinds.
However, the annualized six-month rate of change narrowed to -2.1% in July from -3.1% in June, suggesting that the risk of a recession is waning.
📍Interpretation of Cognition Society: In fact, if the US economy is really weak, it will expand its balance sheet, which is to loosen up money.
Kaiko Report: Ethereum Gas Fee Record Low Will Have Impact on Price and Inflation
Industry research firm Kaiko reports that Ethereum gas fees have recently fallen to their lowest level in five years. According to Etherscan's GasTracker, the average network fee for Ethereum's layer 1 is currently 2.15Gwei or just $0.13, the lowest level since 2019. Kaiko reports that lower fees could have an impact on Ethereum issuance and the amount of gas consumed when using it. If the supply is no longer deflationary, this could also have an impact on the price.
📍Interpretation of Cognitive Society: Bad market conditions are all bad news
🔹Summary: Bitcoin 61400-64000 short-term pressure level, every plunge in Bitcoin is an opportunity for Ethereum to enter the market
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: 59400 58500
Pressure level: 61400 64000
🏷Ethereum
Grayscale’s suppression of Ethereum is weak
The highest point of Ethereum's rebound on August 20 was 2690, which coincides with the pressure point of 2700 in yesterday's article.
On August 19, the lowest point of Ethereum fell back to 2560, and the support level of 2500 in the article of Cognitive Society yesterday was far from the original support level.
The highest point of Ethereum's rebound on August 18 was 2690, which coincides with the pressure point of 2700 in yesterday's article.
The highest point of Ethereum's rebound on August 17 was 2630, which coincides with the pressure point of 2620 in yesterday's article.
Grayscale is estimated to need 3 months to sell. The selling pressure is the greatest in the first month. Wait for the chips to be exchanged.
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 2660 2700
Support: 2580 2540
🏷️SUN
Very weak
152 is the key short-term pressure level. If it fails to stand firm, it will repeatedly test the bottom. 141 138 support level
🏷LINK
9.8 is the key support level 11 is the key resistance level
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
6.6 is the key pressure point
Pressure level: 6.4 6.6
Support level: 6 5.8
🏷️BLUR
0.15 is the key support level. If it is not broken, we will see a rebound. 0.19 and 0.23 are the strong resistance levels.
🏷OP
Cognition Society believes that OP around 1.1 is still worth considering
Pressure level: 1.4 1.5
Support: 1.24 1.1
🏷CRV
0.33 is the key pressure point
0.29 0.27 key support level
🏷️UN
This wave of SOL ecosystem is a bit weak
2.44 2.6 Pressure level
2.2 2 Support Level
🏷️TREES
Oscillation Weak 0.0072 pressure level
0.0062 0.0055 support level
🏷️WIF
This wave of SOL ecosystem is a bit weak
Stuck at 1.6 pressure level
🏷1000SATS
0.00033 is stuck, don’t chase higher
0.00027 is the key support level
🏷1000RATS
Stuck at 0.01 pressure level
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.
🏷NEAR
4.2 4.4 Short-term pressure level
When the price of NEAR23 is around 1, Cognition Society is the only one that reminds you to invest regularly when the price is around 1.3 to 1.
Pressure level: 4.2 4.4
Support: 3.9 3.8
🏷️YUP
0.75 0.73 Support Level
0.81 0.84 pressure level
🏷BNB
If it fails to hold 575, it will fall back to 550.
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 560 550
Pressure level: 575 585
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 advocate the bull market every day?
