$MERL
🧲 $MERL crashing 6.0% with 3.1x volume surge
- Given the strength of this dump, the bearish momentum, and the high volume anomaly, I expect more downside is likely before any real bottom forms, unless there is a strong reversal pattern at a demand level like 0.01605 or 0.01509 🔻
- If you want to short, the clearest setup is to wait for a weak bounce toward 0.01674-0.01742 and look for rejection (bearish engulfing, shooting star, or strong supply absorption on lower timeframes). Entry could be around 0.01674-0.01742 if a rejection occurs, with take profit targets at 0.01605 and 0.01509. Stop-loss should be above the swing high of the bounce (maybe just above 0.01750 or 0.01800, depending on the structure you see)
- If you see a liquidity sweep and a fast wick below 0.01605 or 0.01509, then an immediate reversal (like a pin bar with long lower wick), you may consider a scalp long—but only with confirmation!
- Watch for confirmations: reversal candle patterns, volume absorption, or bullish divergence on very low timeframes for long ideas. For shorts, look for clear signs of exhaustion and rejection after a bounce
- My bias remains bearish unless 0.01742 is reclaimed and held with strong buying volume. If price closes above 0.01807, I would expect a bounce toward 0.01900 and reassess. Until then, look for sell opportunities on weak bounces and don't rush into longs unless you see clear trapping of shorts or a major reversal candle
📝 This is not investment advice, just an educational report. Please manage your risk and wait for proper confirmations!
📊 Get detailed free analysis of any coin on any timeframe you want. Try Finora AI - Your Trade Buddy for free → tinyurl.com/FinoraBot
#MERL
🧲 $MERL crashing 6.0% with 3.1x volume surge
- Given the strength of this dump, the bearish momentum, and the high volume anomaly, I expect more downside is likely before any real bottom forms, unless there is a strong reversal pattern at a demand level like 0.01605 or 0.01509 🔻
- If you want to short, the clearest setup is to wait for a weak bounce toward 0.01674-0.01742 and look for rejection (bearish engulfing, shooting star, or strong supply absorption on lower timeframes). Entry could be around 0.01674-0.01742 if a rejection occurs, with take profit targets at 0.01605 and 0.01509. Stop-loss should be above the swing high of the bounce (maybe just above 0.01750 or 0.01800, depending on the structure you see)
- If you see a liquidity sweep and a fast wick below 0.01605 or 0.01509, then an immediate reversal (like a pin bar with long lower wick), you may consider a scalp long—but only with confirmation!
- Watch for confirmations: reversal candle patterns, volume absorption, or bullish divergence on very low timeframes for long ideas. For shorts, look for clear signs of exhaustion and rejection after a bounce
- My bias remains bearish unless 0.01742 is reclaimed and held with strong buying volume. If price closes above 0.01807, I would expect a bounce toward 0.01900 and reassess. Until then, look for sell opportunities on weak bounces and don't rush into longs unless you see clear trapping of shorts or a major reversal candle
📝 This is not investment advice, just an educational report. Please manage your risk and wait for proper confirmations!
📊 Get detailed free analysis of any coin on any timeframe you want. Try Finora AI - Your Trade Buddy for free → tinyurl.com/FinoraBot
#MERL