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🔹Reviews of Cognitive Society
On August 29, Bitcoin fell back to the lowest point of 57,800, which is close to the support level of 57,000 mentioned in yesterday's article.
Bitcoin has started to fluctuate without pressure or support. This kind of fluctuation is fatal to trend players, because chasing high or stopping loss is fatal. The way to play the fluctuating market is to pay attention to the lows and reduce positions when the highs. If you chase highs, you will definitely lose money, and the loss will be terrible.
The short-term pressure point of Bitcoin is 62,200, and the mid-term significance is 66,000, because such a sharp drop requires a positive line to reverse in order to form market confidence. I hope there will be a miracle in the last two days.
As long as Bitcoin holds 57,000, it will repeatedly sprint to around 62,000, so this is the most important support level in the short term.
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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Grayscale GBTC holdings fell to about 274,000 BTC, and ETHE holdings fell to about 1.81 million ETH
Yesterday, the US Bitcoin spot ETF had a net outflow of US$105.19 million, and BlackRock IBIT had no inflow/outflow
📍Cognition Society Interpretation: Grayscale is selling too slowly, and there are still 1.81 million ethers after one month of selling
Arkham: Ethereum ETH saw positive inflows for the first time in two weeks yesterday
According to Arkham monitoring, Ethereum ETH saw positive inflows for the first time in two weeks, mainly due to Blackrock's ETHA receiving $9.4 million in inflows, while Grayscale's ETHE outflows fell to an all-time low (only $3.4 million).
📍Cognitive Society Interpretation: That’s because Grayscale sold less, not because BlackRock bought more
U.S. jobless claims fall slightly as concerns about a rapidly deteriorating economy ease
The number of Americans filing claims for unemployment benefits fell last week, but jobless workers are finding fewer opportunities to find new jobs, suggesting the unemployment rate is likely to remain elevated in August. Data released Thursday showed initial claims fell 2,000 to a seasonally adjusted 231,000 for the week ended Aug. 24. Economists polled by Reuters had forecast claims would total 232,000 last week. Claims fell from an 11-month high in late July as auto plants temporarily shut down and the impact of Hurricane Beryl faded. They remain at levels consistent with a steady cooling in the labor market, which should help ease concerns about a rapidly deteriorating economy.
📍Interpretation by Cognition Society: This shows that the risk of economic recession in the United States is small.
🔹Summary: Bitcoin 57700 is the key support level, 62000 is the short-term key pressure 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: 59000 57700
Pressure level: 62000 64000
🏷Ethereum
2600 2700 is a strong pressure point
The highest point of Ethereum's rebound on August 29 was 250, which coincides with the pressure point of 2600 mentioned in yesterday's article.
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 2600 2700
Support: 2520 2460
🏷️SUN
Very weak 150 not encountered
🏷LINK
10.8 is the key support level, 12 12.8 is the key resistance level
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
Pressure level: 6 6.2
Support level: 5.7 5.5
🏷️WIF
The lowest rebound of 1.48 is in line with expectations, and the pressure level is 1.7 and 1.9
🏷️BLUR
0.17 is the general pressure level and 0.2 is the strong pressure level
🏷OP
Cognition Society believes that OP around 1.2 is still worth considering
Pressure level: 1.5 1.6
Support levels: 1.35 1.25
🏷CRV
0.28 is indeed the lowest point, 0.33 0.36 is a strong pressure point
🏷️UN
This wave of SOL ecosystem is a bit weak.
2.4 2.2 support level
🏷️TREES
0.0061 0.0058 support
🏷1000SATS
Extremely volatile, strictly control positions
0.00027 If not broken, it is a short-term opportunity. If broken, stop loss
🏷1000RATS
0.1 0.12 Pressure level
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 indeed the lowest point
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 levels: 4.3 – 4.1
🏷️YUP
0.78 0.73 support level
🏷BNB
It's not good news for securities, so there's no increase
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 530 520
Pressure level: 550 560
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?
