MERL looks like its setting up for a decent PopMERLUSDT Perpetual ContractBYBIT:MERLUSDT.PTrend_Chasin⚛️ HTF Context (Daily) Prolonged downtrend channel → controlled selling Price pushing into range lows / exhaustion zone Momentum clearly slowing This is the shift: 👉 Trend → Exhaustion → Reversal Attempt We are in the potential turning phase. ⚛️ LTF Structure (15m / Execution TF) Strong impulse off the lows First real displacement against trend Holding above EMA cluster Beginning to build a base Key detail: 👉 This is the first time buyers are holding control ⚛️ Model Read This is: 👉 Reversal Extension (Early Stage) NOT crossback yet. This is where: Shorts get trapped Early longs position Market decides if it wants to rotate higher ⚛️ What I’m Watching This is the key question: 👉 Does this extension hold and build, or immediately fail? ⚛️ Scenarios 🟢 Bull Case (Primary) Hold above EMA support Continue building higher lows Push into prior structure highs This leads to: 👉 Reversal → THEN Crossback → THEN Trend 🔴 Bear Case (Failure) Lose the base Immediate rejection Back into downtrend structure This becomes: 👉 Failed Reversal Extension → continuation lower ⚛️ Execution Plan This is NOT breakout chasing. Looking for: Pullbacks into support Tight consolidation LTF continuation triggers ⚛️ Teaching Point This is where most traders lose money. They: Short into exhaustion Or wait too long and miss the move The edge is here: 👉 Trading the first shift — not the confirmation ⚛️ Closing This is early — but that’s the opportunity. If this holds, this becomes a full sequence: 👉 Reversal Extension → Crossback → Trend Expansion Right now: 👉 We are at Step 1