FxWirPro: BTC/SGD trades higher, good to buy on dips
The pair has slightly declined after jumping till1078 levels (ITBIT). It is currently trading around 1068 at the time of writing. Long-term trend: Bullish Ichimoku analysis (Daily chart): Tenkan-Sen level: 1026 Kijun-Sen…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
The pair has slightly declined after jumping till1078 levels (ITBIT). It is currently trading around 1068 at the time of writing.
Long-term trend: Bullish
Ichimoku analysis (Daily chart):
Tenkan-Sen level: 1026
Kijun-Sen level: 980
Trend reversal level - (100 days MA) – 852.33
BTC/SGD is holding well above 1051.25 (Jun 18th high). So a jump till 1204 is possible.
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 1019 (5- day MA) and any break below targets 980 (daily kijun-Sen)/936.20 (Nov 3rd 2016 low).
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