BTC/SGD is seen trading slightly above on Friday. The pair has recovered sharply after showing a dip till 1052 and is trading well above 21- day MA (ITBIT). It is currently trading around 1094.72 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1080

Kijun-Sen level: 1080

Trend reversal level - (100 days MA) – 918.82

Long-term trend remains to be bullish. BTC/SGD is facing strong support at 21- day MA and slight weakness can be seen only if it closes below 21- day MA level.

Major resistance is around 1102 (38.2% retracement of 1189 and 1048) 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 1065 (21- day MA) and any break below targets 1048(Dec 5th low)/ 1037 (61.8% retracement of 936 and 1200)/999 (55- day EMA).