FxWirePro: BTC/CNY hits fresh all-time high, jump till 12000 likely
BTC/CNY has broken major resistance at 11277 and hits fresh all- time high at 11499 levels (BTCCHINA). It is currently trading around 11339 at the time of writing. Ichimoku analysis of daily chart shows: Tenkan-Sen level…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/CNY has broken major resistance at 11277 and hits fresh all- time high at 11499 levels (BTCCHINA). It is currently trading around 11339 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 10118
Kijun-Sen level: 9171
Major reversal level -9410 (21 EMA)
Long-term trend remains to be bullish. BTC/CNY hits fresh all time high and further jump till 12000 likely.
Major resistance is seen at 11518 (113% retracement of 11277 and 9633) and any break above targets 12000/12558. Short term support is around 10685 (23.6% retracement of 8060 and 11499) and any break below will drag the pair till 10210 (10 – day MA) /9630.
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