BTC/CNY hits fresh all-time high of 11277 after breaking yesterday high of 10776 levels (BTCCHINA). It is currently trading around 10819 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9418

Kijun-Sen level: 8863

Major reversal level -8540 (21 EMA)

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 80 in the weekly chart and a minor selling is expected to happen.

Major resistance is around 11369 (161.8% retracement of 8896 and 4893) and any break above will take the pair till 11700 (161.8% retracement of 11277 and 10590). Short term support is seen at 10600 (23.6% retracement of 11277 and 8333) and any break below the will drag the pair down till 10060 (23.6% retracement of 6119 and 11277)/9415 (daily Tenkan-Sen).