It's only meaning is confirming $25K as a double bottom as well as the current range, which previously was in doubt. Holding it as support doesn't increase the chances of breaking above $32K imo, only of re-testing it as part of the current strong range. I don't doubt there will eventually be a break of $32K, most likely from the current long-term range, but unlikely it will happen anytime soon. $30K seems somewhat irrelevant as a resistance level now, it's purely psychological as $32K has established itself as the top of the range (similar to May 2022). Either way it'll need a lot more volume than present to break-out up or down.

Let's not forget that price was previously in a range of $15K to $25K for 9 months, so not it's worth getting surprised by remaining in the range for another two months, in fact it'd be quite fitting for market structure to repeat itself. Being bullish because price as found support from $25K and bearish when rejected from $30K/$32K, in the long-term view, is clearly becoming pointless. Finding the support from $25K again has invalidated the bearish outlook, but this doesn't make it bullish, simply back to neutral for the immediate term. Similar to rejection from $32K again, it wouldn't be bearish, simply still neutral within the range.

Ultimately we've established a range for 7 months and remain neutral within it. Anyone being bullish/bearish in the immediate term during this period was wrong, there's no denying that. Eventually either the bulls or bears will be right when the range breaks - and no doubt they'll say they told you so. But by that time those bulls/bears will be wrong enough times that being right eventually won't be that surprising either.


We also went from $27K to $30K within two days back in June, but alas the resistance around $32K kept prices within the range. The exception to my analysis would be if an ETF get's approved, then sure there will likely be a moonshot to the upside out of the range. But personally I don't see this happening anytime soon either, likely early 2024, around the same time when the range will be broken based on current time-frame.

Fundamentally I think we need to break the current market structure of going from the top of the range to the bottom and visa versa. For example re-testing $32K resistance then actually holding $28K as new support, this would be the first step towards being able to invalidate the range. Without that, price is most likely going to continue ping-pong between support and resistance until something changes...

There's no way UFC will hold his last loss against him given the 11 days notice and the fact he was fighting a top guy in a higher weight class (and did quite OK).

Usman agreed to fight Chimaev because of the huge payout. This is natural because Usman has won in negotiations. This defeat was also beneficial for Usman because it could be assumed that Usman lost this fight due to lack of preparation. Chimaev has been training for months at the training camp, while Usman has only started preparing for the Training Camp in just 11 days. And one more thing, Usman has received a very large fee from the UFC (I don't know how much) to fill this fight.

Yes he said he is going to take a long break from fighting, he was active as a champion and he has two loses in 3 fights and that might have motivated him to take a break from fighting, Adesanya announced this through his twitter page

Everybody want to stop seeing Stroll on F1, i hope next year he is not more between the 20 drivers of the grid, he have so many chances to show us and the world how good he is, and he never sho anything good, the only one time when he show some quality was in that Turkish Gp.

Yeah when you get on a roll like that then it's all about breaking records, so the only "danger" is he tries too hard and makes a mistake but with all the others around him making mistakes instead it's a bad bet to go against him.

I like the new format too, gives late entries a fairer chance

Watch out for Brazil!!

I agree,it is not the fault of a great driver who has refused better teams and stayed at Redbull even when Redbull was not at all dominating the Championship,I give credit to him for the loyalty given to Redbull which has been rewarded with 3 consecutive World Titles.I liked him when he said after winning his first title via radio "Let's do this for another ten years together" which again showed great belief in the team.

I also agree with the fact that Ferrari and Mercedes has absolutely no excuses when it comes to their budget and I would also add one of the oldest and successful teams of F1 history which they hold the fastest ever world record pit stop,McLaren also has no excuses.