BTC/SGD breaks psychological level at 1000, targets 1050
BTC/SGD is seen trading above on Tuesday. The pair ha jumped till 999 on 29th Oct 2016 and slightly pared its gains (ITBIT). It is currently trading around 1002.29 at the time of writing. Ichimoku analysis of daily chart…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/SGD is seen trading above on Tuesday. The pair ha jumped till 999 on 29th Oct 2016 and slightly pared its gains (ITBIT). It is currently trading around 1002.29 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 913.25
Kijun-Sen level: 880
Trend reversal level - (100 day MA) – 838
Long-term trend remains to be bullish. BTC/SGD downside is capped by daily Tenken-Sen, a slight decline is possible only below that level.
Major resistance is around 1005 (88.6% retracement of 1051.50 and 650) and any violation above will take the pair till 1051 (Jun 18th high). Short-term support is seen at 968 (5- day MA) and any break below targets 940 (Daily Tenekn-Sen)/908 (21- day MA).
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