Update articles daily, spend your precious 3 seconds to follow Cognition Society👈
Welcome to leave a message, we will answer any questions you have
🔹Reviews of Cognitive Society
The lowest point of Bitcoin on August 1st, 63,000, is far from the support level in yesterday's article.
The bloodbath at the beginning of the month is here again, indicating that the rebound at the end of the month still does not meet the requirements for stabilization.
Every time Grayscale withdraws ether from the exchange, there is a sharp drop. Everyone in the market is paying attention to Grayscale, and everyone knows that Grayscale's 2.9 million ethers are to be sold. Therefore, Cognition Society repeatedly reminds Grayscale to speed up the sale. It is ideal to sell most of the selling pressure by the end of August. If you sell slowly, you may have to wait one more month until September.
Of course, institutions are changing positions, so they will buy back from BlackRock Fidelity, but there will also be a net outflow.
The unilateral market of Bitcoin is abnormal. When it rebounds, it breaks through all the strong pressure points with a V-shaped reversal, and when it falls back, it returns to the original position. The core factor for such a crazy unilateral market is that the market participation force is not enough. The Bitcoin spot ETF plays a decisive role in the price of Bitcoin. Retail investors in the market do not buy Bitcoin spot at all. When the market's buying and selling are all one-sided, the market is completely controlled. Another core factor is the contract. At the end of July, the surge cleared 2 billion short orders. The purpose of this round of decline is 1 billion long orders. The price did not change, and the main force took 3 billion...
We all have the same positions, the same risks, and we share the same honor and disgrace
If Bitcoin loses 63,000, it will fall back to around 59,000. When it plummets, pay attention to Ethereum. After all, Grayscale should be selling for more than a month.
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 of Cognition Society do not have direct bullish or bearish opinions, which affects the chances of making money by playing contracts. The principle of Cognition Society is to play more spot in a bull market. We do not over-judge the rise and 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.
——————————————
Bitcoin ETFs saw a total inflow of $3.2 billion in July, of which IBIT saw $2.3 billion
📍Cognition Society Interpretation: Bitcoin spot ETF plays a decisive role in the price of Bitcoin, and BlackRock is the boss of the currency circle.
Mt.Gox may have repaid assets to more than 70% of its creditors
On August 1, according to a notice issued by Nobuaki Kobayashi, the trustee of Mt.Gox, the trustee had repaid BTC and BCH to more than 17,000 creditors as of July 31. Previously, Mt.Gox mentioned in court documents and related reports during its bankruptcy that approximately 24,000 creditors had submitted claims, and the repayment completion rate was roughly estimated to be 70.83%.
📍Interpretation of Cognition Society: Mentougou sold 70% of its Bitcoin, only the US government’s Bitcoin was not sold.
Futu launches spot trading pairs of Bitcoin, Ethereum, USD and HKD
On August 1, Futu Hong Kong announced that it will officially launch virtual currency trading services today, becoming the first brokerage firm in Hong Kong to launch zero-commission virtual currency trading. The group's application "Futu Niu Niu" will provide virtual currency trading services from today. The threshold is 80 Hong Kong dollars or 10 US dollars.
Futu’s cryptocurrency trading function includes 4 spot trading pairs including Bitcoin, Ethereum, USD and HKD. It also provides Hong Kong and US stock spot ETF trading, Hong Kong and US stock futures ETF trading, as well as related investment categories such as blockchain concept stocks.
📍Interpretation of Cognition Society: It is almost meaningless to buy cryptocurrencies if the main roads are not allowed to be bought. Hong Kong people are not in the mood to buy cryptocurrencies, and Hong Kong stocks are plummeting.
If Bitcoin falls below $62,000, mainstream CEX will have $1.069 billion in long orders liquidated
On August 1, according to Coinglass data, based on the current mainstream CEX contract positions, if Bitcoin falls below $62,000, mainstream CEX will have $1.069 billion in long orders liquidated.
If Bitcoin rebounds and breaks through $66,000, mainstream CEX will have $1.412 billion in short orders liquidated.
📍Interpretation of Cognition Society: Liquidate 2 billion short sellers, and liquidate 1 billion long sellers.
🔹Summary: Bitcoin 59,000 is the key support. Every time Bitcoin plummets, it is an opportunity for Ethereum to enter the market.
There is no destructive negative news. Bitcoin 56600 is likely to be the bottom area of the third historical bottoming out;
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: 60000 58000
Pressure level: 63800 64800
🏷Ethereum
Grayscale’s selling pressure is the core pressure of the market
Grayscale is estimated to need 3 months to sell. The selling pressure is the greatest in the first month. Wait for the chips to be exchanged.
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
On July 28, Ethereum plummeted to a low of 3190, which coincides with the support level of 3200 in yesterday’s article.
Pressure level: 3200 3300
Support: 3060 3000
🏷LINK
12.4 11 Support
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
6.8 is the key support level
Pressure level: 7.2 7.5
Support: 6.8 6.6
🏷️BLUR
Weakling
0.17 0.155 Support
🏷OP
weak
Cognition Society is the only one who reminds you to layout OP when the OP bottom is around 1.3
Pressure level: 1.7 1.8
Support level: 1.5 1.4
🏷️SUN
At present, it should be the weekly triple top, 155, 145 should have a big rebound
🏷CRV
0.28 0.3 pressure level
0.3 is the key pressure point
0.24 0.2 key support level
🏷️UN
2.7 2.5 support level
🏷️TREES
0.009 is the key support level
🏷️WIF
Very exciting 1.6 rebound 2.7
2.7 down 1.9
If the high position is not broken, there will be a big rebound
🏷1000SATS
0.0033 Cognitive Society clearly reminds you to reduce your positions, even if you lose 20 points, you should strictly control your sats positions in the future market, as the fluctuations are too large.
🏷1000RATS
0.16 pressure level is the key to strength
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 is the absolute core support level
Cognitive Society is the most optimistic about NEAR on the planet. NEAR1 has been updating frantically. Now NEAR is ranked behind in the article because it has risen too much. Maybe NEAR may reach 40 in the future, and there is not much room for growth.
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: 5 5.3
Support level: 4.7 4
🏷️YUP
1.2 is the highest point and 0.9 is the key support level
🏷BNB
550 is the key support level
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 550 530
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?
