BTC/SGD is seen trading slightly above on Monday. The pair has broken major resistance around 1100 and jumped till 1108 on Dec 10th 2016 (ITBIT). It is currently trading around 1107.84 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1119

Kijun-Sen level: 1080

Trend reversal level - (100 day MA) – 916

Long-term trend remains to be bullish. BTC/SGD downside is capped by 10- day MA any close below that level confirms minor weakness.

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 1089 (10- day MA) and any break below targets 1071 (21- day MA)/ 1037 (61.8% retracement of 936 and 1200)/1015 (55- day EMA).