You can say this to friends. People will consider you impolite and offensive if you use this sentence in formal situations. What would you think of a non native speaker, who said a similar thing to you in Chinese?

It sounds crass. In fact, where it says ''release it'', the first image in my mind is a literal one: into a toilet bowl. I assume you wanted to express your feelings seriously, but it sounds far funnier and more childish than you think. Watch the figurative language. There be dragons.

It is humorous but its more crude than you would usually hear in public, but it would be acceptable between friends. Depends of what kind friends you have of course. ;) It definitely is effective in getting your point across. It actually sounds very similar to what I've heard my friends say before.

From an English standpoint, yes, you can say that. However, s___ is profanity, and considered offensive by many people.

Yes it is offensive. That doesn't mean that is not true (I don't believe that it is true, actually.) A more effective statement, given the first statement, would be,: "Life is shit, refuse it." OR "Life is shit, forget it." If you do not want to be so offensive, you could use 'crap' instead of 'shit'. I hope your day isn't going quite as badly as that statement implies, by the way.