Technical Form and Resistance Levels MERL is currently facing a critical resistance level breakthrough failure, forming a triple top structure, indicating a significant depletion of bullish momentum. The three attempts to break through the same resistance area have been strongly suppressed, and the market's selling pressure continues to accumulate, with major funds seemingly taking advantage of the price increase to sell off.
Supply Pressure and Market Expectations Combined with the selling expectations released in December, the supply-side pressure will be further amplified. The major funds' rush to sell may trigger a chain reaction, necessitating caution regarding market risks and avoiding blind buying.
Operation Suggestions and Risk Warnings The current trend has shifted to a bearish dominance, and any rebound may present an opportunity to exit or position short. It is recommended to closely monitor market dynamics, reasonably control positions, and guard against sudden risks. $BTC
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