BTC/SGD is seen trading slightly above on Tuesday. The pair has broken a major resistance around 1100 and jumped till 1108 on Dec 10th 2016 (ITBIT). It is currently trading around 1110.72 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1119.40

Kijun-Sen level: 1080

Trend reversal level - (100 day MA) – 916

Long-term trend remains to be bullish. BTC/SGD downside is capped by 10- day MA any close below that level confirms minor weakness.

Major resistance is around 1119 (daily Tenken-Sen) any break above that level will take the pair to next level till 1160 (127.2% retracement of 1051.92 and 650)/1204 (138.2% retracement of 1051.92 and 650). Short term support is seen at 1090 (10- day MA) and any break below targets 1074 (21- day MA)/ 1037 (61.8% retracement of 936 and 1200)/1015 (55- day EMA).