BTC/SGD is seen slightly dipping from high on Thursday. The pair jumped till 1031 at the time of writing and pared its gain slightly from the higher level (ITBIT). It is currently trading around 1024 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 964

Kijun-Sen level: 936.50

Trend reversal level - (100 day MA) – 845

Long-term trend remains to be bullish. BTC/SGD holds well above 1000 level. So a minor weakness is possible only below the 1000 psychological level.

Major resistance is around 1031 (161.8% retracement of 999 and 947) and any violation above will take the pair till 1051 (Jun 18th high)/1125 (161.8% retracement of 944.17 and 650). Short-term support is seen at 993 (5- day MA) and any break below targets 962(10- day MA) 936.50 (daily Kijun-Sen).