Max pain is watching the price trend higher whilst you are sidelined. I’m looking for hedges in the low-90Ks on BTC. Everything in between is noise, imo. I’m not interested in trying to capture a potential move below 80K, I’d rather trade with the trend. I see a lot of people comparing current PA to the 2023 cycle, where BTC flushed below the previous wick low before pushing higher. In this case, it would be 75 > 90K. It is within the realm of possibility, but I would not become married to that idea. Cycles are gradually shifting, this bear market bottomed after a 54% decline, compared with roughly 76% in the previous cycle. The dynamics are materially different. This is simply what I expect personally.