BTC/CNY pair has declined slightly after jumping to 7250 levels (BTCCHINA). It is currently trading around 6980 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 6875

Kijun-Sen level: 7185

Major reversal level -5885 (200- day MA)

Long-term trend remains to be bullish. BTC/CNY faces strong resistance at 7259 (50% retracement of 8400 and 6119) and any break above targets 7528.

Major resistance is seen at 7259 (50% retracement of 8400 and 6119) and any break above will take the pair till 7431 (Mar 21st high)/7528. Short term support is around 6875 (daily tenken-Sen) and any break below the will drag the pair down till 6600/ 6434 (Feb 10th low)/6119 (Mar 25th, 2017 low).