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 9, 55,700, and the pressure point of 56,600 mentioned in yesterday's article.
In fact, many altcoins are consolidating near the pressure level, waiting for the strength of Bitcoin, such as BLUR0.17 UNI6.6, but the weakness of Bitcoin has led to the altcoins never having a strong market.
It is not the selling around 55,700 Bitcoin that is suppressing the market, but the weakness of the market. Bitcoin ETF has not had such a long period of net outflow for a long time, which shows that institutions are changing positions on the eve of the US dollar rate cut.
If the US TV debate can bring traffic, the market will have the confidence and courage to rebound strongly.
The weakness of Bitcoin has prevented the market from having a strong rebound for a long time.
If the crypto industry wants to break through in a positive direction, there are two paths:
First: the incremental funds of Bitcoin ETF and Ethereum ETF after the interest rate cut;
Second: Bitcoin has been fluctuating sideways for 3 months, and altcoins are preparing for a strong rebound;
The key to Bitcoin's reversal is to stabilize at 57,000. The support level of Bitcoin's sharp drop is 53,000-48,000.
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.
——————————————
Bitcoin ETFs saw a total net outflow of $1.2 billion in 8 days
According to Bloomberg data, the 12 spot Bitcoin exchange-traded funds (ETFs) in the United States had a total net outflow of $1.2 billion in 8 days. Despite the outflow of funds, the performance of cryptocurrency ETFs is still better than more than 400 new ETFs in 2024, of which the four largest ETFs are spot Bitcoin ETFs.
In the first week of September, the price of Bitcoin fell all the way, from a high of $64,668 on August 26 to a low of $53,491 on September 7. This means that in just two weeks, the price of Bitcoin fell by 17.28%. However, analysts said that historically, Bitcoin has not performed well in September.
📍Cognition Society Interpretation: It is modest to say that Bitcoin spot ETF affects Bitcoin price. It should be said that Bitcoin ETF determines Bitcoin price.
Trump and Harris will hold their first debate on September 11
According to ABC News, the first presidential debate between Trump and Harris will be held at 9 a.m. Beijing time on September 11 at the National Constitution Center in Philadelphia, Pennsylvania, and will be broadcast live on ABC News Live, Disney+ and Hulu.
📍Cognition Society Interpretation: On September 11, I hope they will talk about Bitcoin
A whale sold about 28,554 ETH to repay debts on Aave, losing more than $17 million
According to Lookonchain monitoring, after the price crash on September 7, a whale sold about 28,554 ETH (US$64.4 million) to repay all debts on Aave, with a loss of more than US$17 million.
This whale accumulated about 30,500 ETH worth about $2,850 between December 18, 2023 and July 31, 2024.
📍Interpretation of Cognition Society: I know everyone is suffering, but the whales who bought 30,000 ether spot are losing money, so what are we?
Bloomberg analyst: Bitcoin spot ETF has more than 1,000 institutional holders within two quarters of listing
Eric Balchunas, senior ETF analyst at Bloomberg, posted on social media that Bitcoin spot ETFs have more than 1,000 institutional holders in just two 13F reporting periods. This is unprecedented. IBIT alone has 661 institutional holders, of which 20% of the shares are held by institutions and large consultants, and it is expected that this proportion may reach 40% in the next 12 months.
In-depth interpretation: The more institutions hold it, the more stable the price.
🔹Summary: Bitcoin 56600 is the key short-term pressure level, 52500 is the key short-term support level, every Bitcoin plunge 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: 53500 50000
Pressure level: 55800 56600
🏷Ethereum
2320 really suppressed...
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 2330 2400
Support: 2250 2200
SUN
The rebound is particularly weak
122 is the key support level
🏷LINK
10.8 is the highest point and is consistent with the expectations of the cognitive society article 9.8 9.2 support level
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
6.7 7 is the key pressure point
Cognition Society believes that if UNI wants to take off, it needs to repurchase tokens with profits and then destroy them.
Pressure level: 6.7 7
Support: 6.3 6.1
🏷️WIF
1.4 is an important support level, 1.6 is the highest point, which is consistent with expectations
🏷️BLUR
0.17 is repeatedly fought for 0.2 0.23 is the key pressure point
🏷OP
Cognition Society believes that OP around 1.2 is still worth considering
Pressure level: 1.5 1.6
Support levels: 1.35 1.25
🏷CRV
0.3 0.33 pressure level
Struggling around 0.27
🏷️UN
This wave of SOL ecosystem is a bit weak.
2 Struggling Nearby
🏷️TREES
0.0053 is the key support level
0.00063 0.0068 is the pressure point
🏷1000SATS
Extremely volatile, strictly control positions
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: 4 4.2
Support level: 3.7 3.5
🏷️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?
