BTC/CNY has broken the high of 15800 made on May 22nd and hits fresh all time high at 15999 at the time of writing (BTCCHINA). It is currently trading around 15939. The pair has formed a minor bottom around 14400 and any further weakness can be seen below that level.

Ichimoku analysis (4-Hours):

Tenkan-Sen level: 15329

Kijun-Sen level: 14138

Major reversal level -12267 (May 21st low)

Long-term trend remains to be bullish. BTC/CNY faces minor support at 10 4H MA and break below targets 12267/11567 in the short term.

Minor resistance is around 16065 (100% projection from 8060 to 11277 to 9633) and any break above targets 16760 (138.2% projection of 6119 to 11277 from 9633). Short term support is seen at 15290 (10- 4H MA) and any break below will drag the pair till 14400/12267 (May 21st 2017 low)/11567 (89 4H EMA).

It is good to buy on dips around 15000 with SL around 14350 for the TP of 16000/16750.