BTC/SGD is seen recovering from the plunge on Friday. The pair declined sharply after making temporary top around 1031.92 yesterday (ITBIT). It is currently trading around 943.91 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 970.83

Kijun-Sen level: 938.46

Trend reversal level - (100 day MA) – 845

Long-term trend remains to be bullish. BTC/SGD takes support near 21- day MA. So a minor weakness is possible only below the 925 (21- day MA).

Major resistance is around 995 (61.8% retracement of 1031.52 and 936.20 and any violation above will take the pair till 1031(161.8% retracement of 999 and 947)/ 1051 (Jun 18th high)/1125 (161.8% retracement of 944.17 and 650). Short-term support is seen at 925 (21- day MA) and any break below targets 910 (34 days EMA)/886 (55-day EMA).