Merafe showing strong downside due to M Formation and SMC

M Formation formed on Daily, which the price broke below.
21>7- Bearish
Price <200 - Bearish
RSI <50 lower highs
Target R1.08

SMC
Buy Side Liquidity Order Block formed which was at the top of the M Formation.
This is where Smart Money comes in and sweeps buying liquidity from buyers going long and shorters getting stopped.