This is the max pain scenario. It's not a guarantee but seems like a plausible short-term bearish outlook
For now, we bounced off R/S flip at previous extension @ 44800 (That's why it's important to test extensions once breached), closed past 23.6 (46300) on daily + bullish failure swing reversal on 4-hr
Demand will inevitably peak at the top of the falling...
ETHUSD is on the brink of a textbook Cup and Handle breakout. Once a breakout is confirmed, the first target would be $2350.
This potential bullish market sentiment for ETH is confirmed by a bullish divergence on the ETHBTC as well.
