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🔹Cognitive Society comments
On October 30, the Cognitive Society reminded in yesterday's article that Bitcoin's surge does not lead to altcoins rising. If Bitcoin pulls back, altcoins face the risk of a sharp drop.
Bitcoin 70300 is the key support level. If it breaks down with volume, there is a risk of a significant drop due to daily divergence. Currently, the biggest positive is the monthly closing, and Bitcoin's monthly performance is still very strong.
The Cognitive Society believes that as long as Trump is elected President of the United States in November, Bitcoin and the crypto circle should have huge opportunities. Of course, if there is a 25-point rate cut in November, that would be a huge positive, and there may also be another rate cut in December.
Actually, the gradual interest rate cuts in the U.S. are the biggest positive, and then next year the balance sheet will expand.
Because if the U.S. cuts interest rates too quickly, it indicates difficulties in the U.S. economy and a hard landing, along with the risk of recession. Gradually cutting rates can restore market liquidity while ensuring the fundamentals of the U.S. economy are sound.
In the medium term, Bitcoin 65500 is the core support level. If it holds, there is still hope and space for a rebound.
The Cognitive Society believes that the core factors affecting Bitcoin's medium term are Trump's presidency and the degree of U.S. interest rate cuts. As long as Trump is president of the U.S., the crypto industry should experience a significant surge, but of course, in case of a sudden drop...
After December, market liquidity will gradually increase, combined with the certainty after the U.S. elections, the Cognitive Society still believes the market will gradually improve.
According to TraderT monitoring, the net inflow of the U.S. spot Bitcoin ETF was 892.88 million USD yesterday, the second highest inflow since its launch. The U.S. Bitcoin spot ETF has seen a net inflow of 4.73 billion USD in nearly 13 trading days.
Yesterday, the net inflow of the U.S. Ethereum spot ETF was 4.4 million USD.
📍Cognitive Society Interpretation: The Bitcoin spot ETF has recently been competing for Bitcoin. Hope to compete for Ethereum by the end of the year.
16th anniversary of the Bitcoin white paper release.
On October 31, 2008, a cryptographer named Satoshi Nakamoto published the Bitcoin white paper (Bitcoin: A Peer-to-Peer Electronic Cash System) on the P2P Foundation website. Today, it celebrates its 16th anniversary.
📍Cognitive Society Interpretation: Great Bitcoin.
QCP Capital co-founder: The impact of BlackRock's entry into the crypto space is more important than the U.S. presidential election.
According to CoinDesk, Darius Sit, co-founder and chief investment officer of Singapore crypto trading firm QCP Capital, believes the impact of BlackRock, the world's largest asset management company, entering the crypto space is more important than the U.S. presidential election. Although support for Republican candidate Trump may bring short-term market volatility, Sit points out that BlackRock's Bitcoin ETF has brought cryptocurrencies into the mainstream investment arena. Sit noted that when BlackRock CEO Larry Fink publicly stated on CNBC that Bitcoin is a 'store of value,' it marked an elevation of cryptocurrency's status in the U.S. investment market.
Additionally, Sit also pointed out that despite Trump's promise to create a more crypto-friendly policy during his campaign, the growth potential of the global market remains to be seen. QCP recently expanded its business in Abu Dhabi, where regulators view digital assets as part of the capital markets, providing a stable market environment.
📍Cognitive Society Interpretation: All are important.
🔹Summary: Bitcoin 703000 is the critical point of the top divergence, 65000 is the medium-term support level. Every sharp drop in Bitcoin is an entry opportunity for Ethereum.
Starting from May 2024 is the mid-term bull market for Bitcoin and Ethereum; every sharp drop is an opportunity. Focus on long-term K-line research for Ethereum, UNI, OP, NEAR, BLUR, and LINK.
🔹Short-term data
Disclaimer: The K-line data analysis provided by the Cognitive Society is based on data analysis, does not represent any position, and does not collect any money from any project party.
🏷Bitcoin
Support levels: 70300 67400
Resistance levels: 72000 73000
🏷Ethereum
Severe
On October 31, Ethereum's lowest point of 2530 was close to yesterday's Cognitive Society article's support level of 2560.
On October 30, Ethereum peaked at 2720, which aligns with yesterday's Cognitive Society article's resistance level of 2730.
Ethereum facing a sharp drop is an entry opportunity
Positioning Ethereum is the core strategy.
Resistance levels: 2600 2680
Support levels: 2530 2480
🏷️SOL
If 160 does not break, there is still hope for a rebound.
🏷LINK
13 is unable to stabilize at all.
New value, new RWA leader. A sharp drop can be allocated, Cognitive Society laid out LINK in 22-23 years.
🏷uni
October's UNI is likely a doji star.
The Cognitive Society believes that for UNI to take off, it needs to repurchase tokens with profits and then burn them.
Resistance levels: 8 8.2
Support levels: 7.6 7.4
🏷️WIF
2.4 2.25 support levels
On October 31, WIF's lowest point of 2.44 aligns with yesterday's Cognitive Society article's support level of 2.4.
On October 30, WIF rebounded to a peak of 2.7, perfectly matching yesterday's Cognitive Society article's resistance level of 2.7.
On October 29, WIF's lowest point of 2.24 aligns with yesterday's Cognitive Society article's support level of 2.2.
🏷️BLUR
0.246 is the key resistance level, 0.21 is the key support level.
🏷OP
1.8 2 resistance level
The Cognitive Society believes that OP around 1.2 is still worth considering
Resistance levels: 1.8 2
Support levels: 1.6 1.5
🏷CRV
Struggle near 0.25
🏷️JTO
2.55 is an important resistance level.
2.2 2 support levels
🏷️BOME
0.0083 0.0074 is the key support level.
🏷1000SATS
Wants to stabilize at 0.00027
High volatility, strictly control positions
🏷1000RATS
Can the 0.1 support level hold?
Reduce positions when 1000RATS rebounds near the cost, and lower the long-term position ratio after reducing, as the volatility is too high.
🏷NEAR
Weak bottom-seeking
When NEAR's price is around 1 in 2023, the Cognitive Society exclusively reminded to dollar-cost average from near 1.3.
Resistance levels: 4.3 4.5
Support levels: 4 3.8
🏷️JUP
0.94 is an important support level, 1.1 is an important resistance level.
🏷AI and NFP
Dropped too deep, it’s not that there are no updates, but we can only wait
To be strong, it needs to stabilize at 0.65
🏷BNB
On Earth, when BNB is around 200, the Cognitive Society exclusively reminds to dollar-cost average BNB from 210 to 180.
Support levels: 570 560
Resistance levels: 590 600
Others wait for more updates after the rebound.
🔹Cognitive attitude towards making money
The Cognitive Society does not like to play the hindsight game.
Also does not like to hype about how everyone makes money.
If someone in the crypto circle can profit from every coin's rise and fall.
Using leverage for a year is not about making 10 billion.
But the second largest exchange on Earth watches the market manipulated by the operators and only lost tens of billions to go bankrupt.
Form your own trading system, earn money within your cognitive range, do not fantasize about profiting from every daily rise and fall, nor should you fantasize about profiting from every coin's rise and fall. There is no such person or institution on Earth, and if such an institution existed, the trading platform FTX, which monitored the main force behind the scenes, would not have collapsed.
Desire and ability do not match.
The heart can never be calm
How can you hold coins if your heart is not at peace?
Many people like to rely on others' promises and guarantees to hold coins during sharp drops.
Banks can go bankrupt, and even the fiat currencies of some major countries can collapse. Evergrande and Zhongzhi have gone bankrupt with trillions.
Do you think promises of profits in such a high-risk space like the crypto industry are credible?
Charlatans speak nonsense; have you seen those who were promoting the bull market still around during real crashes and bear markets?
