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FxWirePro: BTC/CNY downside capped by 50% fibo, good to buy on dips

BTC/CNY is seen trading slight below on Monday and the pair has slightly recovered after making a low of 6610 level (BTCCHINA). BTC/CNY is currently trading around 7151 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 7396

Kijun-Sen level: 7298

Major reversal level -6911 (89- day EMA)

Long-term trend remains to be bullish. BTC/CNY downside capped by 50% fibo around 6600 and break below confirms minor bearishness.

Major resistance is around 7300 (55- day EMA) and any break above will take the pair till 7625 (21- day MA)/8000/8275 (88.6% retracement of 8400 and 7310)/ 8400. Short term support is seen at 6640 (50% retracement of 4893 and 8400) and any break below will drag the pair till 6430 (Feb 10th low)/6220/5670 (200- day MA).

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Actual

8 Bln USD

Forecast

6.00 Bln USD

Previous

-108 Bln USD

October 20 14:30 UTC Released

USECRI Weekly Index*

Actual

146.6 %

Forecast

Previous

145.2 %

October 22 21:00 UTC 14091409m

KRPPI Growth*

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Forecast

Previous

October 22 21:00 UTC 14091409m

KRPPI Growth YY*

Actual

Forecast

Previous

October 22 21:00 UTC 14091409m

CAPPI Growth YY*

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Forecast

Previous

3.2 %

October 22 21:00 UTC 14091409m

KRPPI Growth YY*

Actual

Forecast

Previous

3.2 %

October 22 21:00 UTC 14091409m

KRPPI Growth*

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Forecast

Previous

0.3 %

October 23 01:30 UTC 16791679m

EZConsumer Confid. Flash

Actual

Forecast

Previous

8.3 %

October 23 01:30 UTC 16791679m

CNChina House Prices YY*

Actual

Forecast

Previous

8.3 %

October 23 07:00 UTC 20092009m

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Actual

Forecast

Previous

68.70 Bln BRL

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