Looking at BEAT dropping from a high level to now, an 88% decline is truly shocking. Behind this sharp sell-off, it's not caused by a single factor, but rather a three-layer resonance of technicals, liquidity, and market psychology.

From the candlestick chart, the price has completely broken through all key support levels. The moving average system has long turned bearish, arranged from top to bottom, with the downward trend strength never waning. The Bollinger Bands are especially aggressive, with the gap between the upper and lower bands widening, and the price continuously hugging the lower band. This indicates that the downward momentum is still being released and there are no signs of bottoming out.

On the trading front, it's even more painful. During the initial sharp decline and at the moment of key breakdowns, trading volume spiked, indicating large sell orders hitting the market. But after falling to low levels, no one was willing to buy, and trading volume dried up. There are basically no active buy orders in the market. The RSI indicator is deeply oversold, which should theoretically trigger a rebound, but it didn't—this is a clear sign of market sentiment being completely one-sided, with funds trying to catch the bottom already trapped.

The most critical factor is market sentiment. When the price rapidly breaks through multiple psychological and numerical support levels, leveraged longs are forcibly liquidated. They are forced to sell to convert to cash. When one person gets liquidated, it creates new sell orders, pushing the price down further, which then triggers the next round of liquidations. "Drop → liquidation → more sell orders → further decline." This vicious cycle can destroy any consensus. Coupled with the extreme decline itself being very frightening, early holders lose all confidence, their mentality completely collapses, and market consensus shifts to "must sell." The more they sell, the steeper the decline.

Honestly, I am also a long-term holder of BEAT. This wave has directly caused me to lose over $10,000. The current question is whether to continue waiting for a rebound or to find a way to bottom fish. If later on we see trading volume gradually increase and some technical indicators start to turn, then it might be a good time to consider entering. But for now, observing might be wiser than rushing into action.