BTC/SGD is seen trading above on Friday. The pair has once again recovered after making a low of 870 yesterday (ITBIT). It is currently trading around 878.82.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 881.63

Kijun-Sen level: 837.85

Trend reversal level - (100 days MA) – 840.98

Long-term trend remains to be bullish. The pair’s downside is capped by 23.6% fibo and any minor weakness can be seen only below 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 867 (23.6% retracement of 782 and 893.66) and any break below targets 859.87 (21- day MA)/ 840.