Clear move here?
Everyone thought bitcoin was great when it was going up Sharply; however if we focus on the economic turmoil currently radiating through turkey it is clear that parabolic price inclines in a currency do not necessarily mean positive things other than profit for traders on the correct side of the market.
Smaller time frames show bearish momentum...
Turkish Lira and Japanese Yen dropped a lot recently, and I think a reversal could occur - at least for a short time. Keep an eye out for breakout confirmation in the next few days.
The European common currency has been appreciating against the Turkish Lira for five weeks. This movement has been bounded in a falling wedge.
As apparent on the chart, the exchange rate is trading near the support cluster formed by the 55-, 100–. 200-hour SMAs and the Fibonacci 38.20% retracement in the 6.9843/7.0499 range. It is expected that the pair will...
The Turkish Lira has been appreciating against the Japanese Krone since the pair reversed from the 2017/2018 low at 15.63. This movement has been bounded in a medium-term ascending channel.
As apparent on the chart, the exchange rate is testing the lower trend line at 18.48. Also, the pair is supported by the 100-period (4H) SMA at 18.27. From the theoretical...
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 5.0000 would begin in Midterm.
Technical analysis:
The RSI support #1 at 48 is broken, so the probability of resumption of uptrend is decreased.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
Price is below...
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 5.0000 would begin in Midterm.
Technical analysis:
The RSI support #1 at 48 is broken, so the probability of resumption of uptrend is decreased.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
Price is below...
Next week = uptrending, low of the week will be around tuesday
If next week is uptrending, the week after that pastor will be released on the 11th of October
