BTC/CNY is seen trading well above on Friday. The pair breaks major psychological level at 7000 and jumped till 7191 levels (BTCCHINA). It is currently trading around 7118.11 at the time of writing. Ichimoku analysis of …
BTC/CNY is seen trading well above on Friday. The pair breaks major psychological level at 7000 and jumped till 7191 levels (BTCCHINA). It is currently trading around 7118.11 at the time of writing.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 6573
Kijun-Sen level: 5941
Major reversal level -5797 (89- day EMA)
Long-term trend remains to be bullish. BTC/CNY faces strong resistance at 7200 (ichimoku cloud) and any break above targets 7366.
Major resistance is around 7200 (cloud top) and any break above that level will take the pair to next level till 7366 (61.8% retracement of 8896 and 4893)/7500. Short term support is seen at 6650 (5- day MA) and any break below targets 6473 (10- day MA)/6330 (30- day EMA).
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