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🔹Reviews from Cognitive Society
Unlike the previous six months, this round of Bitcoin rebound not only led to the rebound of altcoins, but also the rebound of a large number of altcoins was far stronger than Bitcoin. There was even a large number of general price increases in altcoins.
When the market was in despair, hope did emerge. If the plunge on April 14 was to clean up contracts, and the plunge on June 18 was to clean up leverage, then the apocalyptic plunge on August 5 shattered the last hope of those holding copycat spot positions.
When a copycat stock falls by more than 51%, the subsequent plunge actually has little to do with the contract, because the 2x leverage has been liquidated, and it is more about the despair of the copycat spot.
Of course, including the 24 years of copycats by Cognitive Society, the decline was too deep, beyond expectations and judgments. Most new coins on Binance fell by 8 to 10 times.
In an environment where Bitcoin has increased fivefold, it is really unthinkable that the new currency will lose 10 times.
Only by daring to face problems can we make progress in summarizing
Imagination and hindsight are meaningless to progress
There are only three days left until October. If Bitcoin stabilizes at 67,000, it will have a huge impact on market confidence. After all, only when Bitcoin slowly stabilizes can the altcoins complete the bottom construction by the end of the year.
Many altcoins have reached strong pressure points. The key to whether altcoins can surge further is the battle of Ethereum 2800.
Ethereum is the leader of the cottage
There is a high probability that there will be another interest rate cut in November. I hope the market will get better and better. Everyone is in the market, and everyone is eager for a surge and wealth.
The highest point of Bitcoin rebound on September 27 was 66,400, which coincides with the pressure point of 67,000 in the article of Cognitive Society yesterday.
On September 26, Bitcoin fell back to the lowest point of 62,700 and was close to the support level of 63,000 in the article of Cognitive Society yesterday.
The highest point of Bitcoin rebound on September 25 was 64,800, which coincides with the pressure point of 65,000 in the article of Cognitive Society yesterday.
On September 24, Bitcoin fell back to the lowest point of 62400, which coincided with the support level of 62300 in the article of Cognitive Society yesterday.
On September 23, Bitcoin fell back to the lowest point of 62,300, which coincided with the support level of 62,300 in the Cognitive Society article yesterday.
🔹 Cognitive Society News Interpretation
According to TraderT monitoring, the US spot Ethereum ETF had a net outflow of US$100,000 yesterday.
U.S. spot Bitcoin ETFs saw net inflows of $364.71 million yesterday.
📍Interpretation of Cognitive Society: If you buy Ethereum for 300 million...
The U.S. core PCE price index in August was 0.1% on a monthly basis, expected to be 0.20%, and the previous value was 0.20%
The U.S. core PCE price index rose by 0.1% month-on-month in August (the lowest since May), in line with expectations of 0.20% and the previous value of 0.20%.
The U.S. core PCE price index rose by 2.7% year-on-year in August (the highest since April), compared with expectations of 2.70% and a previous reading of 2.60%.
The monthly rate of the US PCE price index in August was 0.1%, the expected rate was 0.10%, and the previous rate was 0.20%. (Jinshi)
The annual rate of core PCE in the United States rose slightly, and the debate on the extent of interest rate cuts intensified
The Fed's preferred core PCE annual rate rose slightly in August, highlighting that the economy is cooling. In addition, real personal consumption expenditures rose 0.1% month-on-month. U.S. Treasury yields and the dollar fell as the market expected the data to allow the Fed to continue to cut interest rates in the coming months, while also adding to the ongoing debate over how much to cut. The Fed chose to cut interest rates by a large 50 basis points this month to kick off its rate-cutting cycle. Interest rate futures data showed that investors are divided on whether the Fed will take a similar move in November or choose a smaller move.
📍Interpretation of Cognition Society: If the US cuts interest rates by 50 basis points in November, it will definitely be a big positive, but with such a huge rate cut, will there be a risk of a US economic recession?...
Bloomberg: A considerable portion of TrueUSD’s reserves are invested in high-risk offshore funds
Bloomberg reported that a significant portion of TrueUSD's reserves were invested in high-risk offshore funds, which triggered the U.S. Securities and Exchange Commission (SEC) to charge TrueCoin LLC and TrustToken Inc. The SEC believes that the companies' claims that the TrueUSD stablecoin is fully backed by the U.S. dollar or equivalent currency are false. The charges highlight transparency and trust issues in the cryptocurrency field, especially in terms of complex ownership structures and reserve management.
Previously, TrueUSD's reserves were transferred to banks in the Bahamas and its ownership was transferred to an offshore entity called Techteryx Ltd. Such operations are not uncommon in the cryptocurrency field, but many people have not questioned these changes due to the industry's belief in decentralization and trustless systems. However, if the SEC's allegations are true, this will be a classic case of fraud that is not limited to the cryptocurrency field, but challenges the entire financial regulatory system.
📍Interpretation of Cognition Society: Although USDC has crashed, you should still allocate some USDC. It was because Silicon Valley Bank collapsed at that time.
🔹Summary: As long as Bitcoin stands firm at 65,000, the market still has room for rebound. 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: 64600 63200
Pressure level: 67000 69000
🏷Ethereum
2700 2800 is the key pressure point
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 2700 2800
Support: 2620 2580
🏷️SUN
The key to whether the rise can be made up is 164
🏷LINK
Prepare to grind 13.2. In fact, 15 is the strong pressure point
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
A sharp drop is an opportunity, no rise
Cognition Society believes that if UNI wants to take off, it needs to repurchase tokens with profits and then destroy them.
Pressure level: 7.6 8
Support level: 7.27
🏷️WIF
2.5 is not a strong pressure point, the strong one is 2.8
🏷️BLUR
If it stands at 0.24, it will repeatedly rush to around 0.3
🏷OP
If you want to be strong, you need to stand firm 2
Cognition Society believes that OP around 1.2 is still worth considering
Pressure level: 2 2.4
Support level: 1.7 1.6
🏷CRV
Want to make up for the rise and stabilize at 0.36
🏷️UN
Pay attention to the sharp drop, there won’t be much increase
2.6 is not a strong pressure point, the strong one is 2.9
🏷️TREES
It has risen. 0.00084 is not a strong pressure point. After all, 0.00088 is suppressed.
🏷1000SATS
Extremely volatile, strictly control positions
0.00027 is the core support level, which is bullish unless it is broken; 0.00035 is the short-term key, but the real strong pressure level is 0.00044
🏷1000RATS
0.016 0.019 is a strong pressure point
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
5.9 is not a strong pressure point, 6.5 is a strong pressure point
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: 5.9 6.2
Support level: 5.4 5
🏷️YUP
If you want to catch up, SOL needs to stand firm at 162. 1 is a strong pressure point.
AI
The decline is too deep. It’s not that we won’t update, but we can only wait.
If you want to be strong, you need to stand firm at 0.65
🏷BNB
600 660 is extremely important. The key is whether BNB’s weekly line is the second top.
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 600 590
Pressure level: 620 640
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?
