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🔹Reviews of Cognitive Society
On September 14, Bitcoin rebounded to a high of 60,500.
After all, the CPI data is a small positive. The market is slowly rebounding after a short-term panic. At present, there is a 50% chance that the interest rate cut in September will be 50 basis points.
If the U.S. economy does not decline, the greater the U.S. interest rate cuts, the more liquidity there will be in the market, the more money there will be, the higher the risk assets will rise, and the more favorable Bitcoin and the cryptocurrency world will be.
Bitcoin 60,000 and 63,000 are strong pressure points. The reason for this round of surge is the incremental funds of Bitcoin ETF. The strong pressure point in the future market depends on the net inflow of Bitcoin spot ETF.
As long as Bitcoin does not break 58,000, it is considered strong and will repeatedly sprint to 60,500.
The repeated coverage of the sinister positive line of the Bitcoin weekly chart shows that the long and short sides are fighting each other repeatedly, indicating that the market is still in the consolidation range, and the closing price at the end of the month is the key.
November is still a volatile month, because no one can guarantee who will win the US election, so the 10 billion incremental funds of FTX at the end of the year are the hope of the market.
🔹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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US spot Bitcoin ETFs saw a net inflow of $263 million yesterday
US spot Ethereum ETF had a net inflow of $1.52 million yesterday
📍Interpretation of Cognition Society: Ethereum ETF finally has money to enter the market.
Bitcoin network contract holdings exceed $32 billion
According to Coinglass data, the current Bitcoin network contract holdings exceeded $32 billion, reporting $32.007 billion, an increase of 4.87% in the past 24 hours. In addition, the Ethereum network contract holdings reached $10.991 billion, an increase of 4.65% in the past 24 hours.
📍Interpretation of Cognition Society: This amount is still not enough for a new round of surge, more holdings are needed.
ARK Invest report: As of the end of August, the cost of US spot Bitcoin ETF investors has exceeded the price of Bitcoin
Cathie Wood's ARK Invest released a monthly report stating that "During August, the price of Bitcoin fell 8.7% to $58,972. At the end of August, Bitcoin failed to break through its 200-day moving average and short-term holder cost basis, which were $63,693 and $63,245 respectively. Currently, the most important price support levels for Bitcoin are $52,000 and $46,000.
The drop in Bitcoin prices in 2024 is consistent with corrections during historical bull market primary trends.
As of the end of August, the estimated cost basis of U.S. spot Bitcoin ETF investors was higher than the price of Bitcoin, indicating that ETF holders faced losses on average.
📍Cognition Society Interpretation: Currently, those who buy Bitcoin ETFs are more likely to be sovereign funds for asset allocation.
FTX/Alameda is unstaked SOL worth more than $1 billion
According to Lookonchain monitoring, FTX/Alameda is unstaking more than $1 billion worth of SOL. In the past three months, FTX/Alameda has unstaked 530,000 SOL ($71 million) and transferred it to multiple addresses, with an average of 176,700 SOL ($23.5 million) unstaked per month. FTX/Alameda still has 7.06 million SOL ($945.7 million) staked.
📍Interpretation of Cognitive Society: SOL has been buying less recently.
Market News: Grayscale to Launch First US XRP Trust Fund
According to market news, Grayscale will launch the first US XRP Trust Fund, paving the way for the launch of a potential XRP ETF in the future. It is reported that the potential XRP Trust Fund will be a so-called "closed-end" fund designed to provide qualified investors with direct investment opportunities in XRP.
📍Cognition Society Interpretation: Cognition Society was the first to propose that the copycat ETF may be UNI SOL XRP ETF.
🔹Summary: Bitcoin 58500-60000 is the key short-term pressure point. Every plunge of 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: 56600 55500
Pressure level: 58400 60000
🏷Ethereum
Linkage is still weak
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 2450 2500
Support: 2390 2340
🏷️SUN
FTX sell-off is very weak, no crash, no attention
If, by any chance, FTX sells off a huge amount of SOL, there is a chance that 80% can increase its efforts, and the altcoin will also usher in a surge.
🏷LINK
12 is the key pressure point. In fact, the biggest sell-off is around 15.
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
The whales are selling, and the market has been particularly weak recently. It is possible that there will be good news after the whales sell. UNI’s exchange profits are used to buy back coins and then destroyed.
Cognition Society believes that if UNI wants to take off, it needs to repurchase tokens with profits and then destroy them.
Pressure level: 6.8 7
Support: 6.5 6.3
🏷️WIF
1.5 1.4 support level
1.66 1.75 pressure level
🏷️BLUR
Just stand firm at 0.17 and sprint to 0.2
🏷OP
1.65 2 pressure level, want to stand firm 2
Cognition Society believes that OP around 1.2 is still worth considering
Pressure level: 1.6 1.8
Support: 1.45 1.4
🏷CRV
0.3 0.33 pressure level
0.25 is the key support level
🏷️UN
This wave of SOL ecosystem is a bit weak.
2 Struggling Nearby
🏷️TREES
0.0068 pressure level 0.00059 53 support level
🏷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
The highest is just around 4.2
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 4.6
Support level: 4 3.8
🏷️YUP
0.84 is the key pressure point
🏷BNB
570 600 Extremely important
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 535 525
Pressure level: 555 575
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 promote the bull market every day?
