BTC/SGD is seen trading slightly above on Thursday. The pair has recovered slightly and is trading above 21- day MA after making a low of 1048 on Monday (ITBIT). It is currently trading around 1093.22 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1080

Kijun-Sen level: 1080

Trend reversal level - (100 day MA) – 915

Long-term trend remains to be bullish. BTC/SGD is facing psychological resistance at 1100 and any close above that level confirms minor bullishness.

Major resistance is around 1102 (38.2% retracement of 1189 and 1048) any break above that level will take the pair to next level till 1160 (127.2% retracement of 1051.92 and 650)/1204 (138.2% retracement of 1051.92 and 650). Short-term support is seen at 1063 (21- day MA) and any break below targets 1037 (61.8% retracement of 936 and 1200)/999 (55- day EMA).