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🔹Reviews of Cognitive Society
On August 30, Bitcoin fell back to the lowest point of 58,000 and was close to the support level of 57,700 mentioned in yesterday's article.
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 is trapped at 61,000 and plummets to the bottom again.
After five long months of bloodbath, 99% of the people in the cryptocurrency circle have suffered heavy losses. Maybe this cold winter is really hard to bear, but there is no other choice but to persevere.
Bitcoin closed tragically in August, so the trend in September is very critical. Whether it will rebound with a big positive line or continue to fall in September depends on the intensity of the interest rate cut in September.
If the US cuts interest rates by 50 basis points in September, there will probably be a big rebound, but if it cuts interest rates by 25 basis points, it will be just average.
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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US spot Bitcoin ETF had a net outflow of $72.1 million yesterday
According to Trader T's monitoring, the U.S. spot Bitcoin ETF had a net outflow of US$72.1 million yesterday.
US spot Ethereum ETF had a net outflow of $1.78 million yesterday
According to TraderT monitoring, the U.S. spot Ethereum ETF had a net outflow of US$1.78 million yesterday.
📍Cognition Society Interpretation: Bitcoin's trading volume is OK, but BlackRock's buying of Ethereum is too small.
As of August 29, BlackRock IBIT's holdings decreased by about 227 bitcoins from the previous day.
BlackRock's official updated spot Bitcoin ETF data shows that as of August 29, the IBIT market value reached US$21,221,992,813.05 billion, and the holdings were 357,509.1401 bitcoins, a decrease of 227.6214 BTC from the previous trading day.
📍Interpretation of Cognitive Society: BlackRock’s reduction in holdings is not that large.
Ethereum's net supply increased by 63,746 in the past 30 days
Ultrasound.money data shows that Ethereum's net supply has increased by 63,746 in the past 30 days, of which the supply increased by approximately 77,485 ETH and 13,739 ETH were destroyed through the destruction mechanism.
📍Interpretation of Cognition Society: All the negatives of Ethereum are superimposed together.
🔹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: 57700 56400
Pressure level: 60600 62000
🏷Ethereum
2600 It just plummeted from the highest point.
On August 30, Ethereum hit the lowest point of 2445, which is consistent with the pressure point of 2460 in yesterday’s article.
The highest point of Ethereum's rebound on August 29 was 2500, 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: 2500 2580
Support: 2440 2260
SUN
133 124 support level, the key is that the monthly line is too ugly
🏷LINK
10.8 is the key support level, breaking 9.5
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
5.7 5.2 support level
Pressure level: 6 6.2
Support levels: 5.7 5.2
🏷️WIF
1.4 1.2 support level
The highest point of WIF rebound is 1.7, which is consistent with the pressure point of cognitive society
🏷️BLUR
0.17 0.2 pressure level
0.15 0.13 support 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
It fell below 0.28 and became weaker
🏷️UN
This wave of SOL ecosystem is a bit weak.
2.2 2 Support Level
🏷️TREES
0.0053 to see the rebound strength
🏷1000SATS
Extremely volatile, strictly control positions
0.00027 is the core support level, breaking the weak
🏷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
3.8 is the key support level, 3 is the strong 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: 4.2 4.4
Support level: 3.8 3.5
🏷️YUP
0.72 0.66 support level
🏷BNB
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 510 500
Pressure level: 540 550
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?
