BTC/CNY hits fresh all-time high of 9999 and shown a minor profit booking from that level (BTCCHINA). It is currently trading around 9799.98 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 8767

Kijun-Sen level: 8252

Major reversal level -8330 (May 5th low)

Long-term trend remains to be bullish. BTC/CNY faces psychological resistance around 10000 and any break above confirms bullish continuation, a jump till 10657 is possible.

Major resistance is around 10000 and any break above will take the pair till 10657 (1005 projection 6119 to 8716 form 8060)/11000. Short term support is seen at 9605 (23.6% retracement of 8333 and 9999) and any break below the will drag the pair down till 9080 (23.6% retracement of 6119 and 9999)/8765 (daily Kijun-Sen).