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🔹Reviews of Cognitive Society
On September 20, the highest point of Bitcoin rebound was 64,100, which was close to the pressure point of 63,500 mentioned in yesterday’s article.
The retracement around 64,000 is expected. Yesterday, Cognition Society has clearly stated that Bitcoin is considered strong if it does not break 61,000. The key is whether the second round or even rotation after the altcoin retracement is the key.
Because few people in the crypto industry hold a large amount of Bitcoin, everyone is eager for the outbreak of copycats.
The highest point of Bitcoin's three weekly rebounds ranged from 70,000 to 65,000 and today's 64,100, so the first target for Bitcoin to slowly stabilize is 65,100.
Because the higher the rebound, the more confidence the market will have. It is not a lie to say that a weaker rebound has stabilized.
Bitcoin's 2-hour top divergence retracement still has the hope of rebounding again. Normally, this level of rise should have the hope of a 4-hour top divergence.
Bitcoin falls back to 61000, 59000 is the key, as long as it holds 61000, it will continue to be bullish.
🔹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.
September 20 News Update
US spot Ethereum ETF had a net inflow of $5.25 million yesterday
US spot Bitcoin ETFs saw a net inflow of $158.2 million yesterday
📍Cognition Society Interpretation: Ethereum ETF finally has incremental funds.
Michael Saylor: MicroStrategy's Bitcoin holdings are worth about $9.9 billion
After MicroStrategy announced the purchase of 7,420 BTC, its founder Michael Saylor posted on the X platform that MicroStrategy's BTC quarterly return has reached 5.1% so far, and the BTC return year-to-date is 17.8%.
As of September 19, 2024, MicroStrategy holds 252,220 BTC, worth approximately $9.9 billion, with a cost balance of $39,266 per Bitcoin.
📍Cognition Society Interpretation: Microstrategy will be the biggest risk to Bitcoin.
Tether's transparency and business structure raise concerns among industry insiders
Tether's market share exceeds 75% of the entire stablecoin market, raising concerns about Tether's influence on the crypto industry. Cyber Capital founder Justin Bons is worried that Tether may be a bigger scam than FTX. Bons wrote in a September 14 X post: Tether is one of the biggest existential threats facing the entire cryptocurrency. Because we have to believe that they hold $118 billion in collateral, it has not provided any evidence. Even after the CFTC fined Tether for misrepresenting reserves in 2021. As early as 2021, Tether was fined $41 million by the U.S. Commodity and Futures Trading Commission (CFTC) for falsely claiming that USDT was fully backed by reserves.
Sean Lee, co-founder of IDA Finance, said that while FTX's collapse was due to its inability to cash out $6 billion in massive customer withdrawals in three days, the hypothetical Tether collapse is related to its banking partners. "Whether it's a bear market or not, the likelihood of Tether's collapse is more about its structural connection to the underlying assets and banking than market volatility. Otherwise, USDT would have suffered in the last bear market, but in reality, USDC was decoupled due to its reliance on SVB and Signature Bank."
📍Interpretation of Cognition Society: It means that USDC is the most formal, the money is really deposited in Silicon Valley Bank, and then Silicon Valley Bank went bankrupt, and Cognition Society lost money.
🔹Summary: Bitcoin 64000 is the short-term critical point, 61000 60000 is the short-term key support level, every Bitcoin plunge 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: 61800 60500
Pressure level: 63800 67000
🏷Ethereum
2600 2700 short-term estimate is difficult
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 2560 2620
Support: 2500 2360
🏷️SUN
FTX sell-off is very weak, no plummet, no attention. No rebound, very weak, stuck at 152
🏷LINK
11.6 13.2 is the key resistance level 10.2 is the key support level
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
7.1...Stuck
Cognition Society believes that if UNI wants to take off, it needs to repurchase tokens with profits and then destroy them.
Pressure level: 7 7.1
Support: 6.55 6.4
🏷️WIF
The highest is 1.91 and the cognitive society said 2 is a strong pressure position
🏷️BLUR
0.21 is the key pressure point 0.23 is the strong pressure point
🏷OP
1.7 2 pressure level, want to stand firm 2
Cognition Society believes that OP around 1.2 is still worth considering
Pressure level: 1.74 2
Support: 1.55 1.4
🏷CRV
0.255 is the key support level, which is indeed the lowest point. 0.3 is the key resistance level.
🏷️UN
This wave of SOL ecosystem is a bit weak.
2.3 2.5 Pressure level
🏷️TREES
Stuck at 0.00072, but not a strong pressure point. The strong one is 0.00084.
🏷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
0.014 is the key 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
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: 4.5 4.8
Support level: 4.2 4
🏷️YUP
0.89 0.949 Pressure level
🏷BNB
570 600 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: 550 540
Pressure level: 570 580
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?
