BTC/SGD is seen trading below in red on Thursday. The pair has once again declined after jumping till 1069.98 levels (ITBIT). It is currently trading around 1052.66 at the time of writing.

Ichimoku analysis of the daily analysis reflects:

Tenkan-Sen level: 1038.65

Kijun-Sen level: 1007

Trend reversal level - (100 days MA) – 879

Long-term trend remains to be bullish. BTC/SGD is seen facing a strong resistance at 1075. Any break above will take the pair to next level till 1160.

Major resistance is around 1080 (Nov 17th 2016 high) and any break above that level will take the pair to next level till 1090 (161.8% retracement of 1031.92 and 936.20)/1160 (127.2% retracement of 1051.92 and 650)/1204 (138.2% retracement of 1051.92 and 650). Short term support is seen at 1050 (10- day MA) and any break below targets 1038 (daily Tenken-Sen)/1015 (21- day MA).