Most Possible Scenario for the short-medium term
We are out of Bollinger bands , the USD/TRY overperformance might be over for some time.
Probably a short to medium term top. USD needs to consolidate before continue the bull run.
In the mean time, BIST 100 , while USD is resting will try to push for 100.000 level as a first step. Turkish manipulators will use that...
As previously stated two analysis . First on 22 April
. The spill has been effective to 88,200 Level
And also after the spill , as we have stated with the run away gaps t the downside.
The second analysis of 12...
Notice the huge pressure to the downside and the general pattern is still very very bearish with a possible target of 75.000 ( the mean of the previous squueze channel)
Although Turkish Manipulators like to close all possible gaps when/if there is suitable environment, this gaps mean that there will be a huge pressure on the market to the mean 75.000.
Historically USD against TL , if at the major top, it will dramatically drop back and can not hoover around the top. Hovering close to top is a sign that USd is forming a continuation pattern, probably a symmetrical triangle.
Long term bulllish on USD/TRL
The triangle formation is already set up, The ETH against BTC has been either strong or slightly strong against BTC -1.07% .
The pattern suggests ETH to almost triple its value against BTC.
Check out the volume shrinking and the symmetry of the triangle is nice
In terms of BTC , if ETH triples in value that means the market dominance will be transferred to ETH...
A Short time frame Scenario points to 8.400 usd for BTC.
As previous Descending wedge break out was not with volume and violent. A trade around 8.400 levels might mean, the worst is over but the recovery will also be slow.
BTC/USD Shorts at all time highs and BTC is not dropping anymore. Also BTC has showing signs of weakening sellers as the falling wedge touched the upper band.
Too early to bet but some sunny days might be approching