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🔹Reviews of Cognitive Society
There is a big difference between the highest rebound price of Bitcoin on July 29, 69,900, and the pressure point of 69,000 mentioned in yesterday’s article.
Bitcoin continues to hit new highs, repeatedly using the 12-hour top divergence to force a short squeeze.
The sharp drop in Bitcoin's price near 70,000 indicates that the selling pressure of spot prices is indeed great. The reason for the rebound is that Bitcoin's contracts are repeatedly squeezed out.
The key support levels of Bitcoin are 66,000 and 63,000. If it holds 66,000, it will repeatedly hit 69,000. If it falls below 66,000, it will see around 63,000.
Bitcoin's 12-hour top divergence is repeatedly triggered, and the selling pressure near the spot price of 69,400 is a bit large.
All we can do is pay attention to Ethereum when Bitcoin plummets, and wait and see how Ethereum performs.
🔹The K-line spirit of cognitive society
Many new fans feel that the articles of Cognition Society do not have direct bullish or bearish opinions, which affects the chances of making money by playing contracts. The principle of Cognition Society is to play more spot in a bull market. We do not over-judge the rise and 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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Data from the US Ethereum and Bitcoin ETFs on July 29 showed:
1. Nine US Ethereum ETFs reduced their holdings by a total of 44,413 ETH, equivalent to US$147.9 million. Among them, Grayscale outflowed 111,023 ETH, equivalent to US$369.7 million. Grayscale currently holds 2,280,661 ETH, worth approximately US$7.59 billion.
2. Nine US Bitcoin ETFs increased their holdings by a total of 601 BTC, equivalent to approximately US$41.32 million. Among them, BlackRock increased its holdings by 341 BTC, equivalent to approximately US$23.5 million. BlackRock currently holds 338,470 BTC, equivalent to approximately US$23.28 billion.
📍Cognition Society Interpretation: Grayscale is going to sell another 110,000 ethers. Although many of them are institutions swapping positions with BlackRock and Fidelity, there will also be huge selling pressure.
As of last weekend, BlackRock’s Ethereum ETF held more than 134,000 ETH, with a market value of over $400 million.
📍Interpretation of Cognition Society: It’s not that our army is too weak, it’s that Grayscale is too strong. Just bear with him for a month.
The total amount of Ethereum beacon chain staked exceeds 33.8 million ETH
Dune data shows that the total amount of Ethereum beacon chain staked is 33,801,979 ETH, and the staked ETH accounts for 28.21% of the total supply. Among them, the stake share of the liquidity staking protocol Lido reached 29.01%.
📍Cognition Society Interpretation: Cognition Society is very optimistic about LDO and ETHFI, but unfortunately the SEC said LDO is a security.
Nearly $1.5 billion in crypto to be unlocked in August, including about $600 million in XRP to be unlocked on August 1
Nearly $1.5 billion worth of cryptocurrency will be unlocked in August, with the 1 billion XRP (worth $609 million at current prices) set to be unlocked on August 1 making up a large portion of the total.
Ripple has unlocked 1 billion XRP on the first day of every month since 2017. It uses two major wallets, Ripple(24) and Ripple(25), to evenly distribute the unlocked tokens each month.
📍Interpretation from Cognitive Society: Don’t buy XRP and W for the time being
🔹Summary: Bitcoin 66000 63000 is the key support level. Every plunge of Bitcoin is an opportunity for Ethereum to enter the market.
There is no destructive negative news. Bitcoin 56600 is likely to be the bottom area of the third historical bottoming out.
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: 66800 64000
Pressure level: 69000 70000
🏷Ethereum
Grayscale is selling another 110,000 ethers
Grayscale is estimated to need 3 months to sell. The selling pressure is the greatest in the first month. Wait for the chips to be exchanged.
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
On July 28, Ethereum plummeted to a low of 3190, which coincides with the support level of 3200 in yesterday’s article.
Pressure level: 3350 3400
Support: 3240 3200
🏷LINK
If you don’t touch 14, you are relatively weak. 14.6 is the key pressure point.
12.4 is the key support level
Can fully circulated value coins take off in the future market, especially after the Ethereum spot ETF is approved?
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
Whales are selling. Very weak. A sharp drop is an opportunity.
Pressure level: 8 8.2
Support level: 7.4 7
🏷️BLUR
0.2 0.23 pressure level
0.17 0.155 Support
🏷OP
weak
Cognition Society is the only one who reminds you to layout OP when the OP bottom is around 1.3
Pressure level: 1.8 1.9
Support level: 1.6 1.5
🏷️SUN
Whether SOL can stand firm at 200 is a weekly triple top.
🏷CRV
0.3 is the key pressure point
0.24 0.2 key support level
🏷️UN
Stimulus 3.3, drop 3, rebound again 3.3
3 is an important support level. If it breaks 2.6, it won’t break 3.3.
🏷️TREES
0.0108 0.0122 pressure level
🏷️WIF
2.3 is the key support level.
2.6 2.8 Pressure level
🏷1000SATS
The fluctuation is a bit too exaggerated. 0.00032 dropped to 0.00024 and then rebounded to 0.00032. Strictly control the position and pay attention to the sharp drop.
0.0033 is the key pressure point
If the cost is around here and you lose 20 points, you can consider changing and reducing your position. If you don't have much bullets, after all, the counterfeit stocks have fallen several times in this round.
When 1000SATS rebounds to near the cost, reduce the position, and reduce the proportion of long-term positions after reducing the position. The fluctuation is too large and most people cannot bear it.
🏷1000RATS
0.16 pressure level is the key to strength
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
Note that NEAR is a bit weak, don’t touch it unless it is at a high position
Cognitive Society is the most optimistic about NEAR on the planet. NEAR1 has been updating frantically. Now NEAR is ranked behind in the article because it has risen too much. Maybe NEAR may reach 40 in the future, and there is not much room for growth.
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: 5.7 5.8
Support level: 5.25
🏷️YUP
1.2 is the key pressure point
1.1 1 support level
🏷BNB
Can you believe it?
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 575 570
Pressure level: 590 600
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?
