BTC/SGD has made a temporary top around 893 and slightly declined from that level (ITBIT). It is currently trading around 880.92 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 869.33

Kijun-Sen level: 849.34

Trend reversal level - (100 day MA) – 838.28

Long-term trend remains to be bullish. The pair’s upside is capped by 61.8% fibo at 897 and any bullishness can be seen only above that level.

Major resistance is around 897 (61.8% retracement of 1051.24 and 650) and any violation above will take the pair till 925 (Jul 26th high)/944 (Jul 2nd 2016 high). Short-term support is seen at 878.50 (9- day-EMA) and any break below targets 869 (daily Tenken-Sen)/855 (21- day MA).