BTC/SGD is seen trading well above on Thursday. The pair has broken the major resistance 945 (Jul 2nd high) and jumped till 949.97 levels (ITBIT). It is currently trading around 950.78 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 904.73

Kijun-Sen level: 884.57

Trend reversal level - (100 days MA) – 838

Long-term trend remains to be bullish. BTC/SGD breaks above major resistance 945, this confirms major trend reversal , jump till 1005 is possible. The pair struggles to close below 5- day MA and any minor weakness can be seen only below that level.

Major resistance is around 945 (Jul 7th high) and any violation above will take the pair till 1005 (88.6% retracement of 1051.50 and 650). Short-term support is seen at 907.58 (5- day MA) and any break below targets 884 (Daily Kijun-Sen)/ 879 (21- day MA).