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MERL has experienced a continuous decline for over 20 days, and recently it has once again broken below a key support level. However, an interesting development began last night—the price stopped falling and stabilized, with two consecutive bullish candles on the hourly chart, indicating that the bottom formation is gradually becoming clearer.
From a technical perspective, extreme declines are usually accompanied by a phase of capital accumulation, and the actions of large traders may be imminent. Currently, this is indeed a window worth paying attention to.
If you want to participate in this rebound, around 0.17 is a reference point. For risk management, set a stop-loss below 0.165 to prevent sudden shakeouts. As for targets, consider layered levels: the first tier at 0.175, the second tier at 0.188, and the third tier at 0.202. Once a breakout above the high is achieved, maintaining the position to continue participating in a larger rally is also a viable approach.
In summary, the bottom range has become relatively clear, and now it depends on the actions of capital.
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It's just another prophecy of the market maker's move, how many times have I heard this?
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Entering at 0.17? I think we should wait a bit longer; this shakeout isn't over yet.
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The layered target is written quite detailed, but I'm worried that a sudden plunge might wipe it all out.
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Stop loss at 0.165, what if it breaks through directly? Haven't you considered that?
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Every time they say "funds are in the accumulation stage," but it keeps going lower.
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Last night, two bullish candles stopped the decline and stabilized, maybe a bit too optimistic.
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I'm still on the sidelines for this wave, waiting for clearer signals.
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Is the bottom clear? I always feel like there's a second layer to build.
Can we really wait from 0.17 to 0.202? Feels uncertain.
Market maker actions? That term makes me nervous.
How are those who entered at 0.17 doing now...
Is the bottom clear? Let's wait another two months for another dip, I hear this kind of talk every time.
If the shakeout is well-prepared, I'm just worried that the funds haven't actually come in.
Often fooled by this "clear bottom," only to face another round of sharp decline.
At the 0.17 level, I think I need to observe more and not rush to buy.
Do the big players really have such good intentions? I doubt it.
This time, don't fall for another trap of false signals; be cautious.
Is the dealer's move in front of us? Uh, I've heard that phrase many times before, but what’s the result?
Entering at 0.17, if it really breaks below 0.165, I wonder how to rescue it.
Wait, can this wave rise to 0.202? That's a bit doubtful.
The layered target is more humane, but usually it gets stuck in the first tier and gets pushed back.
How long ago did we clearly say this bottom range?