BTC/CNY is seen trading above on Wednesday and the pair has broken major resistance at 7280 and jumped till 7327 yesterday (BTCCHINA).  It is currently trading around 7270.01 at press time.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 7103

Kijun-Sen level: 6977

Major reversal level -5992 (200- day MA)

Long-term trend remains to be bullish.BTC/CNY trades slightly above cloud top, a jump till 7528 levels is expected.

Major resistance is around 7280 (Cloud bottom) and any break above will take the pair till 7400 (50- day MA) /7431 (Mar 21st high)/7528. Short term support is seen at 6950 (89- day EMA) and any break below the will drag the pair down till 6600/ 6434 (Feb 10th low)/6119 (Mar 25th, 2017 low).