BTC/SGD is seen trading above on Tuesday. The pair has slightly declined after jumping till 1073.54 levels (ITBIT). It is currently trading around 1055.60 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1026

Kijun-Sen level: 1006

Trend reversal level - (100 days MA) – 873.50

Long-term trend remains to be bullish. BTC/SGD facing strong resistance at 1080. Any minor bullishness only above that level.

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 1054 (5- day MA) and any break below targets 1032 (10- day MA)/1006 (daily kijun-Sen).