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🔹Reviews of Cognitive Society
The lowest point of Bitcoin on September 6th was 55,500, and the support level of 57,000 in yesterday's article was far from the original level.
The highest point of Bitcoin rebound on September 5th was 60,000, which perfectly matches the pressure point of 60,000 in yesterday’s article.
The apparent driving force behind Bitcoin's oversold rebound is that the expected rate cut in September has changed from 25 basis points to 50 basis points. The most important thing is that the selling pressure near 56,000 is not very strong, so the price will rise on a small positive sign.
Bitcoin's short-term pressure is 58,000 and 60,000. If it can stand firm at the 58,000 daily line and have a long lower shadow to bottom out, it would be a good thing. After all, the market needs confidence after falling for too long.
The 60,000 of Bitcoin was brought down by unexpected negative news. As long as it holds 56,000, there is hope that it will repeatedly sprint to 60,000 in the future.
Today, UNI, AAVE and 1NCH in the DEFI sector are relatively strong. Whether DEFI can take off and drive the altcoin market in the future is the key. After all, the market needs a leader.
We can only wait for the incremental funds after the interest rate cut to save the situation.
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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U.S. spot Bitcoin ETF had a net outflow of more than $287 million yesterday
According to TraderT monitoring, the U.S. spot Bitcoin ETF had a net outflow of US$287.78 million yesterday.
US spot Ethereum ETF had a net outflow of $47.4 million yesterday
According to Trader T's monitoring, the U.S. spot Ethereum ETF had a net outflow of US$47.4 million yesterday.
📍Interpretation of Cognitive Society: Ether’s buying power is too weak
Ethereum L1 daily revenue fell to $200,000, a 99% drop in half a year
According to Token Terminal data, ETH Layer 1 revenue has fallen sharply, down 99% since March 2024. On March 5, network revenue peaked at more than $35 million. On September 2, daily revenue had fallen to about $200,000, hitting the lowest point of the year. Bitcoin investor Fred Krueger pointed out that Ethereum's current daily fee income of $200,000 is equivalent to $73 million per year, which is far from enough to maintain its $300 billion market value.
📍Cognition Society Interpretation: Does Ethereum need to change back to the absentee mode?
President of The ETF Store: Four Bitcoin spot ETFs occupy the top four inflows of newly listed ETFs in the United States this year
Nate Geraci, president of BThe ETF Store, disclosed data on the X platform: "Of the 25 top ETFs launched in the United States this year, 13 are related to Bitcoin or Ethereum. About 400 new ETFs have been listed in the United States this year, and the top four inflows so far this year are all spot Bitcoin ETFs."
🔹Summary: Bitcoin 58,000-60,000 is a key short-term pressure point. 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: 56000 54000
Pressure level: 58000 60000
🏷Ethereum
Too weak,
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 2460 2500
Support: 2380 2300
🏷️SUN
122 is expected but also weak 135 140 pressure level
🏷LINK
Although the lowest point of 9.8 is expected, the rebound is weaker than UNI
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
Very strong, but 7 and 7.2 are the key
Cognition Society believes that if UNI wants to take off, it needs to repurchase tokens with profits and then destroy them.
Pressure level: 6.8 7
Support level: 6.2
🏷️WIF
Minimum 1.41 perfect
1.6 1.7 is the key short-term pressure level
🏷️BLUR
0.17 Pressure level
🏷OP
Cognition Society believes that OP around 1.2 is still worth considering
Pressure level: 1.5 1.6
Support levels: 1.3 1.2
🏷CRV
0.27 is struggling again, falling below 0.27 is weak
🏷️UN
This wave of SOL ecosystem is a bit weak.
2 Support Level
🏷️TREES
The lowest level 0.0054 is expected, 0.00062, 0.0068 is the pressure level
🏷1000SATS
Extremely volatile, strictly control positions
0.00027 is the core support level, 0.00031 34 is the pressure level
🏷1000RATS
Weak
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
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 4.2
Support level: 3.6 3.5
🏷️YUP
0.7 0.64 support level
🏷BNB
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 500 490
Pressure level: 520 530
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?
