BTC/SGD has recovered sharply after declining till 1019 levels (ITBIT). It is currently trading around 1073.70 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1026

Kijun-Sen level: 994.73

Trend reversal level - (100 days MA) – 868.50

Long-term trend remains to be bullish. BTC/SGD is struggling to close below 10-day MA. Any minor weakness is seen only below that level.

Major resistance is around 1090 (161.8% retracement of 1031.92 and 936.20) and any violation above will take the pair 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 1055 (5- day MA) and any break below targets 1025 (10- day MA)/994 (daily kijun-Sen).