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FxWirePro: BTC/CNY downside capped by 50% fibo, good to sell on rallies

BTC/CNY declined till 9633 after making a fresh all time high at 11277 levels (BTCCHINA). It is currently trading around 10003 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9838

Kijun-Sen level: 9152

Major reversal level -9170 (21 EMA)

Long-term trend remains to be bullish. BTC/CNY downside is capped by 50% fibo around 9650 and any break below will drag the pair till 9300.

Major resistance is seen at 10659 (61.8% retracement of 11277 and 9633) and any break above targets 11277/ 11369 (161.8% retracement of 8896 and 4893). Short term support is around 9650 (50% retracement of 11277 and 8060) and any break below the will drag the pair down till 9306 (38.2% retracement of 11277 and 6119)/9152 (daily Kijun-Sen).

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May 26 14:30 UTC Released

USECRI Weekly Annualized*

Actual

5.1 %

Forecast

Previous

5.0 %

May 26 14:30 UTC Released

USECRI Weekly Index*

Actual

144.1 %

Forecast

Previous

144.5 %

May 28 15:00 UTC 26462646m

SAM3 Money Supply YY*

Actual

Forecast

Previous

0.0 %

May 28 15:00 UTC 26462646m

SAPvt Sector Loans YY*

Actual

Forecast

Previous

-0.1 %

May 29 08:00 UTC 36663666m

EZLoans to Households*

Actual

Forecast

Previous

2.4 %

May 29 08:00 UTC 36663666m

EZLoans to Non-Fin

Actual

Forecast

Previous

2.3 %

May 29 08:00 UTC 36663666m

EZMoney-M3 Annual Grwth*

Actual

Forecast

5.2 %

Previous

5.3 %

May 29 23:30 UTC 45964596m

JPAll Household Spending MM*

Actual

Forecast

1.1 %

Previous

-2 %

May 29 23:30 UTC 45964596m

JPAll Household Spding YY*

Actual

Forecast

-0.7 %

Previous

-1.3 %

May 29 23:30 UTC 45964596m

JPJobs/Applicants Ratio

Actual

Forecast

1.46 %

Previous

1.45 %

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