BTC/SGD is seen trading slightly above on Tuesday after its plunge. The pair has made a low of 1048 yesterday and slightly recovered from that level (ITBIT). It is currently trading around 1081.66 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1080

Kijun-Sen level: 1080

Trend reversal level - (100 day MA) – 909

Long-term trend remains to be bullish. BTC/SGD has jumped after declining slightly below 21- day MA and further weakness only below that level.

Major resistance is around 1108 (61.8% retracement of 1200 and 960) 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 1058 (21- day MA) and any break below targets 1037 (61.8% retracement of 936 and 1200)/995 (55- day EMA).