FxWirePro: BTC/CNY hits fresh all-time high, jump till 9825 likely
BTC/CNY has broken the high of 9266 and jumped till 9500 (BTCCHINA). It is currently trading around 9476 at the time of writing. Ichimoku analysis of daily chart shows: Tenkan-Sen level: 8509 Kijun-Sen level: 8085 Major …
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/CNY has broken the high of 9266 and jumped till 9500 (BTCCHINA). It is currently trading around 9476 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 8509
Kijun-Sen level: 8085
Major reversal level -7585 (55- EMA)
Long-term trend remains to be bullish. BTC/CNY hits fresh all-time high, jump till 9842 is possible.
Major resistance is around 9626 (100% projection of 4893 to 8400 from 6119) and any break above will take the pair till 9825 (161.8% retracement of 9266 and 8333) /10000. Short term support is seen at 8700 (23.6% retracement of 6119 and 9500) and any break below the will drag the pair down till 8400 (resistance turned into support)/8060.
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