On-chain data never lies. I just caught a super obvious signal that sent chills down my spine.

Tx shows: a giant whale address just transferred 16 million coins $MERL to Bybit.

At this critical moment, the intent of transferring a large amount to the exchange is too obvious.

The main force is making a 'defensive retreat' or directly running away.

Big players have started to hedge, what are retail investors still stubborn about?

Once this level of selling pressure expectation forms, the short-term downward channel has already been confirmed by the giant whale.

Market outlook:

Follow the moves of smart money, and the only direction now is down.

This round of washing may be deeper, I anticipate a decent bottoming structure will only appear around 0.2. I'll be waiting there for you.