🔹Reviews of Cognitive Society
Bitcoin's retracement to its lowest point of 59,500 on August 8 is a bit exaggeratedly strong.
In the context of Bitcoin ETF outflow, Bitcoin's high consolidation shows that the whales have strong bottom-fishing power below 60,000. If there is no major negative news, it is estimated that it will be difficult to fall below 54,500 in the short term.
Bitcoin daily line is still below the o axis. After consolidating at a high level, short-term direction selection, 59000 is the key. Hold 59000 and repeatedly rush to 63000. If it falls below 59000, 57000-55000 is a good entry position. The opportunity to encounter negative news around 50,000 is very good.
When the market is not good, we don't guess whether it will fall or rise first. We try to enter the market at a sharp drop, which is perfect.
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.
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U.S. Ethereum spot ETFs saw a cumulative net inflow of $104.8 million this week
Farside Investors data shows that the US Ethereum spot ETF has a cumulative net inflow of US$104.8 million this week
📍Cognition Society Interpretation: The most frightening thing is that Grayscale sold a large amount of ether in the short term, which is a good thing in the short term, but Grayscale will sell it sooner or later, and there are still 1.9 million ethers.
USDT and USDC supply grew by nearly $3 billion in the past week
The supply of two major stablecoins, Tether (USDT) and Circle (USDC), has grown by nearly $3 billion in a week, suggesting investors are rushing to buy cryptocurrencies after Monday’s plunge.
According to Lookonchain monitoring, Tether has transferred $1.3 billion worth of USDT to exchanges and market makers since Monday, and the market value of USDT has exceeded $115 billion, a new high; the market value of the second largest stablecoin USDC also increased by about $1.6 billion this week to $34.5 billion, the highest level since March 2023.
David Shuttleworth, a research partner at Anagram, pointed out that USDC on the Ethereum network has an inflow of $1.36 billion, while USDC on Solana has an inflow of $356 million.
📍Interpretation of Cognition Society: This is the most core standard for the market to slowly stabilize, because incremental funds are the fundamental solution.
U.S. bank clients turn to selling dollars as Fed rate cut looms
The percentage of investors who believe the dollar will weaken has nearly tripled in the past month as markets brace for a rate cut by the Federal Reserve, according to a Bank of America survey. About 23% of respondents to the bank's monthly sentiment survey said their most confident trade was shorting the dollar, the highest share so far this year and up from 8% in July. The dollar has outperformed most G10 currencies this year, but its rally has fizzled in the past month as data showed the U.S. economy was losing momentum, prompting traders to bet on aggressive U.S. rate cuts.
📍Interpretation of Cognition Society: The reason why interest rate cuts are good is that a large amount of funds leave the US dollar and enter the market.
🔹Summary: Bitcoin 59,000 and 57,000 are short-term support levels. Every plunge in Bitcoin 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: 59200 57000
Pressure level: 61500 63000
🏷Ethereum
2550 is the key support level in the short term. If it does not break 2650, it will break 2450.
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.
Pressure level: 2640 2700
Support: 2560 2500
SUN
Short-term direction selection
151 142 support
🏷LINK
Sure enough, it is stuck at 11, 10, 9.3 support level
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
When the market plummeted, Cognitive Society reminded us that UNI5 was a good bargaining chip.
Pressure level: 6.4 6.8
Support level: 5.9 5.7
🏷️BLUR
0.17 0.2 is the pressure level
🏷OP
Really stuck at 1.5, want to stabilize at 2
Cognition Society believes that OP around 1.1 is still worth considering
Pressure level: 1.44 1.55
Support: 1.25 1.1
🏷CRV
0.26 0.28 resistance level 0.24 0.22 support level
🏷️UN
Stuck at 2.8, a drop back to 2.55 is expected
2.55 2.4 support level
If it weren't for the low circulation of JTO, we could have paid more attention to it and found a huge amount of bottoming out.
🏷️TREES
0.008 pressure level 0.0073 is the key support level. Breaking 0.007 0.0068
🏷️WIF
The highest is 1.95. Stuck at 2 is expected, super rebound, 1.6 is an important support level
🏷1000SATS
Super strong
🏷1000RATS
0.0095 0.01 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
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: 3.8 3.7
🏷️YUP
The highest value of 0.91 is in line with expectations
🏷BNB
520 is a small pressure point, 550 is a strong pressure point
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 500 490
Pressure level: 530 550
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?