BTC/SGD is seen trading above on Wednesday. The pair has broken the recent high made on yesterday and jumped till 921.82 levels (ITBIT). It is currently trading around 921.46 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 890.73

Kijun-Sen level: 863.32

Trend reversal level - (100 days MA) – 872.01

Long-term trend remains to be bullish. The pair struggles to close below 5- day MA and any minor weakness can be seen only below that level.

Major resistance is around 925 (Jul 26th high) and any violation above will take the pair till 944 (Jul 2nd, 2016 high)/1005 (88.6% retracement of 1051.50 and 650). Short-term support is seen at 897 (5- day MA) and any break below targets 892 (Daily Tenken-Sen)/ 887 (10- day MA).