I don't agree. The only big seller of USDTRY futures is Turkish Central Bank.They try to cover private sector spending goverment reserves till elections on March. Turkish central bank reserves are as low as 14 bn USD.
Short term debt service is 70 bn USD. They can't continue to sell on future market then it skyrockets since no one left selling it.
@burakpadir, thanks for your sharing. From technical perspective, I will short sell until it goes higher from here. The risk/reward of the trade is good enough for taking the trade while it's very easy to discover if the trade is invalid and structure of downtrend is changed or not.