The market sentiment has changed, and panic is beginning to spread. BTC and ETH have shown significant pullbacks, and the risk appetite across the entire cryptocurrency sector has rapidly cooled, reflecting that funds are accelerating their exit, and the previously accumulated optimistic expectations are facing a severe test!

Especially for MERL, it encountered strong resistance as it approached an important pressure zone, with upward momentum quickly exhausted and lacking sufficient buying support, the trend appears quite weak. This indicates that the short-term rebound may be nearing its end, and downward pressure is gradually accumulating!

It is no longer realistic to continue holding the idea of 'buying the dip'. The current pattern shows that selling pressure is gaining the upper hand, and a larger-scale adjustment is likely about to unfold. Any counter-trend operations may face significant risks and become victims of market adjustments!

Experience tells us that when the main trend reverses, blind optimism often leads to severe consequences. The market has issued a clear warning; it's time to consider reducing positions or shifting to defensive strategies. Otherwise, in the face of strong adjustments, maintaining positions will become exceptionally difficult. Timely stop-loss is the best strategy!