FxWirePro: BTC/CNY breaks at 61.8% fibo, targets 7950
BTC/CNY is seen trading slightly above on Tuesday and the pair breaks 61.8% fibo at 7366 and jumped till 7386 (BTCCHINA). It is currently trading around 7381 at the time of writing. Ichimoku analysis of daily chart indic…
BTC/CNY is seen trading slightly above on Tuesday and the pair breaks 61.8% fibo at 7366 and jumped till 7386 (BTCCHINA). It is currently trading around 7381 at the time of writing.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 6815
Kijun-Sen level: 6087
Major reversal level -5933 (89- day EMA)
Long-term trend remains to be bullish. BTC/CNY breaks 61.8% fibo and this confirms further bullish continuation a jump till 7950 likely.
Major resistance -7366 (61.8% retracement of 8896 and 4893) and any break above that level will take the pair to next level till 7500/7950. Short term support is seen at 7040 (7- day MA) and any break below targets 6840 (10- day MA)/6520 (21- day MA).
Total value locked values eligible assets at current dollar prices, but price moves and different counting rules can shift the figure without showing flows or trading activity.
