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FxWirePro- Major Crypto levels and bias summary 
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FxWirePro- Major Crypto levels and bias summary 
BTC/CNY is currently trading slightly below on Wednesday. The pair is trading in a narrow range between 7902 and 7300 for the past five trading sessions (BTCCHINA). It is currently trading around 7768 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 7461
Kijun-Sen level: 7168
Major reversal level -6456 (89- day EMA)
Long-term trend remains to be bullish. BTC/CNY downside is capped by 38.2% retracement and any break below confirms minor bearishness.
Major resistance is around 7951 (76.4% retracement of 8896 and 4893) and any break above will take the pair till 8300 (161.8% retracement of 7589 and 6434). Short term support is seen at 7518 (10- day MA) and any break below targets 7340 (38.2% retracement of 6434 and 7902)/7168 (daily Tenken-Sen).
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FxWirePro: BTC/CNY downside capped by 38.2% fibo, good to buy on dips
Wednesday, March 1, 2017 12:16 PM UTC
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