FxWirePro: BTC/CNY downside capped by 50% fibo, good to sell on rallies
BTC/CNY declined till 9633 after making a fresh all time high at 11277 levels (BTCCHINA). It is currently trading around 10003 at press time. Ichimoku analysis of daily chart shows: Tenkan-Sen level: 9838 Kijun-Sen level…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/CNY declined till 9633 after making a fresh all time high at 11277 levels (BTCCHINA). It is currently trading around 10003 at press time.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 9838
Kijun-Sen level: 9152
Major reversal level -9170 (21 EMA)
Long-term trend remains to be bullish. BTC/CNY downside is capped by 50% fibo around 9650 and any break below will drag the pair till 9300.
Major resistance is seen at 10659 (61.8% retracement of 11277 and 9633) and any break above targets 11277/ 11369 (161.8% retracement of 8896 and 4893). Short term support is around 9650 (50% retracement of 11277 and 8060) and any break below the will drag the pair down till 9306 (38.2% retracement of 11277 and 6119)/9152 (daily Kijun-Sen).
A separate Janus Henderson AAA CLO ETF surpassed $30 billion in assets under management Aug. 13. The Pendle market is scheduled to mature Nov. 26, 2026.
