FxWirePro: BTC/SGD trades higher, good to buy on dips
BTC/SGD is seen trading high on Friday. The pair is trading higher continuously for past two trading session and jumped till 956.50 yesterday (ITBIT). It is currently trading around 954.51 at the time of writing. Ichimok…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/SGD is seen trading high on Friday. The pair is trading higher continuously for past two trading session and jumped till 956.50 yesterday (ITBIT). It is currently trading around 954.51 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 913.25
Kijun-Sen level: 880
Trend reversal level - (100 days MA) – 838
Long-term trend remains to be bullish. BTC/SGD trades well above major resistance 945, so a jump till 1005/1050 is possible.
Major resistance is around 960 and any violation above will take the pair till 1005 (88.6% retracement of 1051.50 and 650)/1051 (Jun 18th high). Short-term support is seen at 917.28 (5- day MA) and any break below targets890 (21- day MA)/ 880 (Daily Kijun-Sen).
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