Brothers, don't go against the trend. If you are still going long $MERL , I suggest you take a look at the calendar; December is simply in 'hell mode'.
1. The supply side is facing 'flood discharge-level' pressure.
On the 12th, 15th, 16th, and 19th of this month, these four days are a concentrated unlocking period, with a total of 70 million MERL entering market circulation.
What does this mean? The liquidity is already dried up, and with this massive amount of chips coming down, the buying support simply cannot hold. Even if only half of OTC sellers sell, it would still be a devastating blow to the current market.
2. The market makers are sharpening their knives.
Many early OTC large holders have a cost far lower than the current price. For them, there is still a huge arbitrage opportunity at the current price. On-chain data doesn't lie; 16 million tokens have already been transferred to exchanges in advance. The guns are already loaded; do you think they are transferring in to place orders to support the market? They are definitely looking to sell at high prices.
3. The sentiment has collapsed.
Technically, three failed attempts to rise prove that the upper levels are all trapped positions. The current logic is very simple: multiple bearish factors combined mean that anyone buying is just a bag holder. The market has entered a vicious cycle of 'selling pressure - decline - panic - stronger selling pressure'.
Entering the market now is like catching a falling knife, with no cost-effectiveness to speak of.
Since the major force wants to crash the market, we will go with the trend. In the short term, we are firmly bearish and should have no illusions. This wave of cleansing must be thorough, eliminating all weak hands, and the price must be driven down to around 0.2U before a real golden pit and reversal signal can appear.
What we need to do is patiently wait, and around 0.2 U, we can enter without thinking.
1. The supply side is facing 'flood discharge-level' pressure.
On the 12th, 15th, 16th, and 19th of this month, these four days are a concentrated unlocking period, with a total of 70 million MERL entering market circulation.
What does this mean? The liquidity is already dried up, and with this massive amount of chips coming down, the buying support simply cannot hold. Even if only half of OTC sellers sell, it would still be a devastating blow to the current market.
2. The market makers are sharpening their knives.
Many early OTC large holders have a cost far lower than the current price. For them, there is still a huge arbitrage opportunity at the current price. On-chain data doesn't lie; 16 million tokens have already been transferred to exchanges in advance. The guns are already loaded; do you think they are transferring in to place orders to support the market? They are definitely looking to sell at high prices.
3. The sentiment has collapsed.
Technically, three failed attempts to rise prove that the upper levels are all trapped positions. The current logic is very simple: multiple bearish factors combined mean that anyone buying is just a bag holder. The market has entered a vicious cycle of 'selling pressure - decline - panic - stronger selling pressure'.
Entering the market now is like catching a falling knife, with no cost-effectiveness to speak of.
Since the major force wants to crash the market, we will go with the trend. In the short term, we are firmly bearish and should have no illusions. This wave of cleansing must be thorough, eliminating all weak hands, and the price must be driven down to around 0.2U before a real golden pit and reversal signal can appear.
What we need to do is patiently wait, and around 0.2 U, we can enter without thinking.
