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🔹Reviews of Cognitive Society
On September 7, Bitcoin rebounded to a high of 58,500, which is close to the pressure point of 58,000 mentioned in yesterday’s article.
Bitcoin was trapped at 58,000 as expected and then fell back to 56,400.
In the weak consolidation market, the decline of the altcoins is very small this time. It needs Bitcoin and Ethereum to lead the sprint. Unfortunately, Bitcoin has not been very strong recently.
One is the disastrous employment data, which once again made many people cry out for the U.S. economic recession.
In fact, this matter is not very meaningful. It does not mean that whether the US economy is in recession or not has no impact on the cryptocurrency market, but the US data is set by others. What can we ordinary people do?
According to such tragic data, the probability of a US interest rate cut in September is close to 100%, unless there is a war.
The current expectation is that the US will cut interest rates by 50 basis points. If the interest rate is cut by 50 basis points, the market should rebound significantly. If the interest rate can be cut three times in 24 years, there will be a significant rebound.
If Bitcoin cannot hold steady at 58,000, it will have to fall sharply. 56,400 is normal. If it falls sharply but does not break 54,000, it will easily rebound, because more and more people are long in the market, and it is necessary to break through the long orders of retail investors.
Bitcoin short-term pressure level is 58,000 and 60,000, 56,400 and 54,000 support level
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.
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U.S. ADP employment increased by 99,000 in August, lower than expected
The number of ADP jobs in the United States increased by 99,000 in August, compared with an estimate of 144,000. The previous value was revised from 122,000 to 111,000.
📍Interpretation of Cognition Society: With poor employment data, there is a greater hope for a 50-point rate cut in September, but of course the risk of a US recession is also high.
Bitcoin spot ETF had a total net outflow of $37.2875 million yesterday, continuing its net outflow for 6 consecutive days;
Ethereum spot ETF had a total net outflow of US$37.5078 million yesterday, and the ETF net asset ratio reached 2.28%
📍Cognitive Society Interpretation: BlackRock’s Ether Buying is Really Weak
Ethereum Foundation AMA: Long-term plan to use SNARKs to expand mainnet EVM execution
Justin Drake, a core researcher at the Ethereum Foundation, responded to the question "As Layer2 solutions mature, are there any plans to further expand Ethereum Layer1? If so, what methods are being considered?" during the 12th AMA of the Ethereum Foundation:
“The Ethereum Foundation’s long-term sustainable plan is to leverage SNARKs to scale the EVM implementation on mainnet, which is essentially unlimited.
With real-time L1 EVM SNARKing, provers can verify cheap SNARKs instead of naively re-executing EVM transactions. This will enable the mainnet to increase the gas limit by orders of magnitude without burdening verifiers. All heavy EVM execution will happen outside of consensus on specialized nodes operated by entities such as searchers, builders, explorers, etc. It will be easy for users and consensus participants to run their nodes on their phones or watches.
In addition to the vertical scaling benefits of significantly increasing the L1 EVM gas limit, there is also the opportunity to use EVM-in-EVM precompiles for arbitrary horizontal scaling, verifying EVM execution within the EVM at low cost. Such precompiles will allow developers to programmatically launch new L1 EVM instances, unlocking a supercharged version of execution sharding, where the number of shards is unlimited (rather than capped at 64 or 1024 shards) and individual shards are programmable rollups (with programmable governance, ordering, gas), called "native rollups."
🔹Summary: Bitcoin 58,000-60,000 is a key short-term pressure point. 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: 56000 54000
Pressure level: 58000 60000
🏷Ethereum
Too weak
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 2460 2500
Support: 2360 2300
🏷️SUN
140 150 is the key short-term pressure point
122 is the key support level
🏷LINK
9.8 9 Support
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
6 5.8 support 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 5.8
🏷️WIF
In fact, the sell-off at 1.65 is not very large, it is because Bitcoin is weak, and the real super strong pressure level is around 2
🏷️BLUR
0.17 is the short-term pressure level
0.14 is the key support level
🏷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
0.27 support level 0.3 resistance level
🏷️UN
This wave of SOL ecosystem is a bit weak.
2 Support level 2.4 is the key resistance level
🏷️TREES
0.00062 0.0068 is the pressure point
🏷1000SATS
Extremely volatile, strictly control positions
0.00027 is the core support level, 0.000315 34 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
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 3.6
🏷️YUP
0.7 0.64 support level 0.77 0.8 resistance level
🏷BNB
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 500 490
Pressure level: 520 530
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?
