BTC/CNY has broken psychological resistance of 7300 and jumped till 7348 levels (BTCCHINA). The pair’s minor resistance is around 7377 (Apr 21st 2017 high) and any break above targets 7430. It is currently trading around 7300 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 7163

Kijun-Sen level: 7008

Major reversal level -6119 (Mar 25th low)

Long-term trend remains to be bullish. BTC/CNY faces major resistance at 7430 (Mar 21st high) and any break above confirms minor bullishness.

Major resistance is around 7431 (Mar 21st high) and any break above will take the pair till 7528 (61.8% retracement of 8400 and 6119)/7600/8000. Short term support is seen at 7140 (21- EMA) and any break below the will drag the pair down till 7008 (dailyKijun-Sen)/ 6860 (38.2% retracement of 8400 and 6119)/6434 (Feb 10th low)/6119 (Mar 25th 2017 low).