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🔹Reviews of Cognitive Society
On August 28, Bitcoin fell back to the lowest point of 57,900, and there was a big difference between the support level of yesterday's Cognitive Society article
I thought 60,000 was another rebound, but the market control was awesome, and it fell back to 57,900.
The price that had rebounded to 57,700 fell back to where it was, which only means that the market is re-oscillating and the market's bullish confidence has been extinguished again.
There is a high probability of a rate cut in September. The biggest short-term impact on Bitcoin is Nvidia's financial report. This is Bitcoin in the United States, Bitcoin in the U.S. stock market. Various data in the United States have a direct impact on Bitcoin, and there are huge price fluctuations. This is called pricing power.
If a sharp drop to 56400 is followed by a big rebound, it would be perfect. If the daily line with large volume hits the bottom again, we can only endure it silently. It is meaningless to talk about other things at this position. The confidence of the copycat has been completely lost. No one has confidence without a long-term rebound.
62000 was the previous support level, but now it has become a pressure 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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Yesterday, the US Bitcoin ETF had a net inflow of 3,179 BTC, and the Ethereum ETF had a net outflow of 4,916 ETH
📍Cognition Society Interpretation: The current mainstream institutions in the United States love Bitcoin alone
The value of BTC holdings of 42 US listed companies increased to $20 billion
Bitbo data shows that 42 listed companies hold 335,249 bitcoins, with a value of $20 billion. According to investment manager Nickel Digital Asset Management, the value of BTC held by listed companies was $7.2 billion a year ago, which means that the value of BTC held by listed companies has increased by 177.7%.
📍Interpretation of Cognition Society: Listed companies are working hard to hold Bitcoin.
Four key forces sold 197,800 ETH in the past month, about $599 million
According to Spot On Chain, ETH has fallen sharply twice in the past month (a cumulative drop of 23.5%). The following are four key forces that may have led to the recent sell-off:
1. Ethereum Foundation: sold 35,400 ETH (about US$95 million), and still holds 275,000 ETH (about US$677 million).
2. Jump Trading: sold 88,900 ETH (about US$276 million), and still held 53,600 ETH (about US$132 million).
3. IC0-related whale "0xe17": sold 48,500 ETH (about US$154 million), and still holds 303,000 ETH (about US$751 million).
4. Long-term holding whale "0x682": sold 25,000 ETH (about US$73.9 million), and still holds 41,600 ETH (about US$103 million).
📍Interpretation of Cognitive Society: Ethereum is amazing
🔹Summary: Bitcoin 57,000 is a key support level. Every time Bitcoin plummets, it 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: 57000 54000
Pressure level: 60000 62000
🏷Ethereum
2400 2200 is the key support level
2600 is a strong pressure point
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 2540 2600
Support: 2400 2300
🏷️SUN
Weakened, look at the rebound strength of 133
🏷LINK
10.8 is the key support level, if it breaks, it will become weak
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
5.7 rebound is weak and it’s over
Pressure level: 6 6.2
Support: 5.7 5.3
🏷️BLUR
Bad news caused a sharp drop,
🏷OP
Cognition Society believes that OP around 1.2 is still worth considering
Pressure level: 1.5 1.6
Support level: 1.3 1.2
🏷CRV
0.28 important support level
🏷️UN
This wave of SOL ecosystem is a bit weak.
2.4 2.2 support level
🏷️TREES
Too exaggerated and weak, falling back to where it was
0.0062 0.0055 support level
🏷️WIF
The highest is 2, there should be a big rebound around 1.4
🏷1000SATS
Extremely volatile, strictly control positions
0.0003 0.00027 Support
🏷1000RATS
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
4.2 is the key support level
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: 4.6 4.8
Support level: 4.2 4
🏷️YUP
0.78 0.73 support level
🏷BNB
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 520 500
Pressure level: 545 555
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?