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BTC/CNY is seen trading slightly below in red on Friday. The pair is trading between 6320 and 5716 for the past two trading sessions (BTCCHINA). It is currently trading around 6064.41 at the time of writing.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 5667
Kijun-Sen level: 6894
Major reversal level -5600 (89- day EMA)
Long-term trend remains to be bullish. BTC/CNY faces strong resistance at 6600 and any break above targets 6895/7366.
Major resistance is around 6422 (38.2% retracement of 6320 and 4893) and any break above that level will take the pair to next level till 6600 (support turned into resistance)/6894 (daily Kijun-Sen). Short term support is seen at 5880 (60- day EMA) and any break below targets 5667 (daily Tenken-Sen)/5626 (89- day EMA).
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FxWirePro: BTC/CNY trades in narrow range, slight bullishness only above 6600 level
Friday, January 20, 2017 11:45 AM UTC
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