BTC/SGD is seen trading up the ladder on Thursday. The pair has made a high of 1025 and slightly declined from that level (ITBIT). It is currently trading around 1011 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 984

Kijun-Sen level: 950.96

Trend reversal level - (100 day MA) – 852.33

Long-term trend remains to be bullish. BTC/SGD faces strong resistance at 1032 and any break above targets 1051/1090 in the short term.

Major resistance is around 1031(161.8% retracement of 999 and 947) and any violation above will take the pair till 1051 (Jun 18th high)/1090 (161.8% retracement of 1031.92 and 936.20). Short-term support is seen at 991 (38.2% retracement of 636.20 and 1025.55) and any break below targets 954.75 (21 day EMA)/936.20 (Nov 3rd 2016 low).