BTC/CNY hits fresh all-time high of 10500 after hitting breaking yesterday high of 9999 levels (BTCCHINA). It is currently trading around 10460 at press time.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 9030

Kijun-Sen level: 8474

Major reversal level -8330 (May 5th low)

Long-term trend remains to be bullish. BTC/CNY continuing its winning streak and hits fresh all-time high at the time of writing. The pair is in overbought as RSI at 88 and a minor selling is expected to happen.

Major resistance is around 10657 (100% projection 6119 to 8716 form 8060) and any break above will take the pair till 11000/11369 (161.8% retracement of 8896 and 4893). Short term support is seen at 9988 (23.6% retracement of 8333 and 10500) and any break below the will drag the pair down till 9500 (23.6% retracement of 6119 and 10500)/9020 (7- MA).