FxWirePro: BTC/CNY trades slightly above 61.8 fibo, further bullishness only above 7600 level
BTC/CNY is seen trading slightly above on Monday. The pair has minor resistance at 7147 61.8% fibo and jumped till 7200 levels (BTCCHINA). It is currently trading around 7154 at the time of writing. Ichimoku analysis of …
BTC/CNY is seen trading slightly above on Monday. The pair has minor resistance at 7147 61.8% fibo and jumped till 7200 levels (BTCCHINA). It is currently trading around 7154 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 6898
Kijun-Sen level: 6873
Major reversal level -6204 (89- day EMA)
Long-term trend remains to be bullish. BTC/CNY trades slightly above 7147 but the pair should break above 7600 for further bullishness.
Major resistance -7147 (61.8% fibo of 78589 and 6434) and break above will take the pair till 7600 (Feb 9th high)/7903. Short term support is seen at 6873 (daily Kijun-Sen) and any break below targets 6600 /6434 (60- day EMA) /6225 (61.8% retracement of 4893 and 7589).
