Daily original updates, spend your precious three seconds to follow Cognition Society
🔹Reviews of Cognitive Society
There is a big difference between the highest point of Bitcoin rebound on September 8, 54,800, and the pressure point of 55,500 mentioned in yesterday's article.
The rebound after the sharp drop was very weak, indicating that there is a high possibility of another bottom.
There are still 10 days until the Fed's rate cut meeting. At present, a 25-point rate cut is more likely. Reducing the interest rate from 5.5% to 5.2% has little significance in the short term, and it is estimated that it will be difficult to solve the market liquidity problem.
When the crypto industry enjoys the feast of the US ETF, it is actively controlled by the US. The US economic data, US policies, and US liquidity determine the rise and fall of Bitcoin and the crypto industry.
Many people don’t understand why the impact of other countries is so small compared to 2017 and almost negligible. You may not have noticed how difficult it is to register an Apple ID in Hong Kong. The threshold of the cryptocurrency circle is too high, and it is difficult for the general public to enter.
What scares the public even more is that it is easy to encounter Heiqian when withdrawing money from OTC.
A bull market either comes from a technological revolution or a capital bull market, so we can only wait patiently for sufficient liquidity in the United States.
The key to Bitcoin's reversal is to stabilize at 57,000. The support level of Bitcoin's sharp drop is 52,000-48,000.
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.
——————————————
Data: Crypto Fear and Greed Index rose to 29 today, in a "state of fear"
According to Alternative.me data, the Cryptocurrency Fear and Greed Index rose to 29 today (the index was 23 "extreme fear state" yesterday), indicating that the market is in a "fear state"
📍Interpretation of Cognitive Society: The market is losing money
After the release of unemployment data, the probability of the Federal Reserve cutting interest rates by 50 basis points in September has dropped to 30%
According to CME's "Fed Watch", after the Bureau of Labor Statistics releases unemployment data this week, the probability of the Federal Reserve cutting interest rates by 25 basis points in September is 70%, and the probability of cutting interest rates by 50 basis points is 30%.
📍Interpretation of Cognition Society: There is a high probability of a 25 basis point interest rate cut.
El Salvador adopts BTC as legal tender for three years, current profit is $31 million
Today marks the third anniversary of El Salvador’s adoption of BTC as legal tender. Three years ago, on September 7, 2021, Bitcoin became legal tender in El Salvador. The country’s goal is to promote financial inclusion, facilitate more efficient remittance payments, and attract financial innovation. “President Bukele’s decision to adopt Bitcoin makes the country a historic pioneer in crypto assets.”
El Salvador has been purchasing Bitcoin using the dollar-cost averaging method since 2021, purchasing one Bitcoin per day, and purchased its current holdings at an average cost price of $43,877 per Bitcoin. According to data from the El Salvador Ministry of Finance website, the country currently holds a total of 5,865 Bitcoins, worth more than $318 million, with a profit of $31 million.
📍Interpretation of Cognition Society: It is not a good thing to use the country to speculate in cryptocurrencies. It is better to introduce policies to attract companies in the cryptocurrency circle.
🔹Summary: Bitcoin 54800-56600 is the key short-term pressure point. Every plunge of 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: 52500 48000
Pressure level: 54800 56600
🏷Ethereum
2320 is the short-term pressure level
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 2310 2400
Support: 2200 2100
🏷️SUN
122 is the key support level
🏷LINK
The lowest rebound of 9.2 is expected, 10.8 is the key pressure point
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
5.8 is the key support level 6.6 is the key resistance level
Cognition Society believes that if UNI wants to take off, it needs to repurchase tokens with profits and then destroy them.
Pressure level: 6.5 6.7
Support level: 6.1 6
🏷️WIF
1.4 is the important support level and the lowest point. 1.6 is the key resistance level.
🏷️BLUR
0.17 Repeated fight
🏷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
Struggling around 0.27
🏷️UN
This wave of SOL ecosystem is a bit weak.
1.9 is the key support level
🏷️TREES
0.0053 is the key support level
0.00062 0.0068 is the pressure point
🏷1000SATS
Extremely volatile, strictly control positions
The lowest price was 0.000285, which was very strong.
0.00027 is the core support level, which is bullish unless it is broken; 0.00034 is the short-term 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
Continuously hitting new lows, trying to stabilize 4
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: 3.8 4
Support level: 3.5 3.3
🏷️YUP
0.72 0.77 Pressure level
🏷BNB
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 480 450
Pressure level: 510 520
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?
