FxWirePro: BTC/CNY faces strong support at 6600, break below targets 6229
BTC/CNY is seen dipping a bit on Thursday and the pair has shown a mild recovery till 7140 after declining till 6900 yesterday (BTCCHINA). It is currently trading around 7015 at press time. Ichimoku analysis of daily cha…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/CNY is seen dipping a bit on Thursday and the pair has shown a mild recovery till 7140 after declining till 6900 yesterday (BTCCHINA). It is currently trading around 7015 at press time.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 7348
Kijun-Sen level: 7508
Major reversal level -6943 (89- day EMA)
Long-term trend remains to be bullish. BTC/CNY faces strong support at 6600 and any break will drag the pair till 6229.
Major resistance is around 7289 (55- day EMA) and any break above will take the pair till 7566 (21- day EMA) /7710 (61.8% retracement of 8400 and 6616)/8177 (Mar 13th 2017). Short term support is seen at 6890 (cloud bottom) and any break below will drag the pair down till 6610 (Mar 18th 2017 low)/ 6430 (Feb 10th low)/6220/5670 (200- day MA).
ENA was down 1.71% over 24 hours. A reported tally across three exchanges showed $10,000 in short liquidations and none in long positions, with no data provider named.
