Market Overview for 1000*Simon's Cat/Turkish Lira (1000CATTRY)

Summary
• Price opened at 0.193, reached a high of 0.196, and closed at 0.186 after a volatile 24-hour session.
• A bearish reversal pattern emerged as price collapsed from a short-term high near 0.196.
• Volume spiked sharply during the sell-off, confirming bearish momentum in the later hours.

Opening at 0.193 and reaching a high of 0.196 on 2025-11-09, 1000Simon's Cat/Turkish Lira (1000CATTRY) closed the 24-hour window at 0.186 with a total volume of 11,633,479.9 and turnover* of 2,163,484.0. The pair experienced heightened volatility, especially in the overnight session, as price collapsed sharply from 0.196 to 0.186 on strong volume.

Structure & Formations

A distinct bearish reversal pattern formed as a large bearish candle engulfed the previous bullish formation near 0.196, suggesting a shift in market sentiment. The price then moved into a descending wedge-like structure, with support forming around 0.186–0.187. A doji candle appeared during the early morning hours, signaling indecision but failing to reverse the downward trend.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have both turned bearish, with the 20-period MA crossing below the 50-period MA (death cross). On the daily chart, the 50-period MA has crossed below the 200-period MA, reinforcing the bearish bias. This suggests that short-term momentum remains on the downside, with bears dominating the near-term price action.

MACD & RSI

The MACD has turned negative and is below the signal line, reflecting weakening bullish momentum. The RSI dropped sharply into oversold territory during the overnight sell-off but has since rebounded slightly, hovering just above 30. This suggests a potential short-term bounce, but the overall momentum remains bearish unless price reclaims 0.193.

Bollinger Bands

Price closed just above the lower Bollinger Band, indicating a period of high volatility with price reaching the lower boundary of the bands. The bands have widened, suggesting a continuation of the current trend. A rebound off the lower band could test the 0.186–0.187 support zone, but a break below could extend the move toward 0.185.

Volume & Turnover

Volume surged during the overnight hours, with a massive 8,656,378.2 TRY traded in one single 15-minute candle as price dropped to 0.186. This suggests strong bearish conviction among participants. Turnover also spiked in line with the price move, confirming the strength of the bearish signal.

Fibonacci Retracements

Applying Fibonacci levels to the recent 0.193–0.196 swing, the current price of 0.186 is near the 61.8% retracement level. If this level holds, it could provide a short-term bounce; however, a break below would bring the 50% level at 0.189 into play. On the daily chart, a retest of the 0.189 level could offer a potential entry point for buyers.

Backtest Hypothesis

Given the bearish engulfing pattern observed near 0.196, a short-selling strategy could be backtested with a stop-loss placed above 0.196 and a target at the next support level near 0.185–0.186. The support level could be defined as the most recent swing low (e.g., the 0.186 level). A trailing stop might be used to secure profits in case of a partial rebound. This approach would allow traders to capitalize on the breakdown in momentum while managing risk through defined exits.