FxWirePro: BTC/SGD faces strong support at daily Tenkan-Sen, good to buy on dips
BTC/SGD has declined from the temporary top around 893 till 870 yesterday (ITBIT). It is currently trading around 877 at the time of writing. Ichimoku analysis of daily chart shows: Tenkan-Sen level: 871 Kijun-Sen level:…
BTC/SGD has declined from the temporary top around 893 till 870 yesterday (ITBIT). It is currently trading around 877 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 871
Kijun-Sen level: 837.83
Trend reversal level - (100 days MA) – 840.81
Long-term trend remains to be bullish. The pair’s downside is capped by daily Tenkan-Sen 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 870 (daily Tenkan-Sen) and any break below targets 857 (21- day MA)/ 840.
