Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

FxWirePro: BTC/CNY faces strong support at 6600, good to buy on dips

BTC/CNY has once again recovered after declining till 6620 level. BTCC/CNY faces minor resistance at 6860 (Feb 11th 2017 high) and any minor bullishness can be seen only above that level (BTCCHINA). It is currently trading around 6846 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 7012

Kijun-Sen level: 6841

Major reversal level -6144 (89- day EMA)

Long-term trend remains to be bullish. BTC/CNY faces major support at 6600 (resistance turned into support) and a break below confirms minor weakness.

Major resistance is around 6860 (Feb 11th high) and break above will take the pair till 7012 (daily Teneken-Sen)/7152 (61.8% retracement of 7589 and 6434)/7366. Short term support is seen at 6600 (resistance turned into support) and any break below targets 6434 (Feb 10th low)/ 6409 (60- day EMA) /6225 (61.8% retracement of 4893 and 7589).

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

February 28 12:00 UTC Released

TRForeign Arrivals YY*

Actual

-9.81 %

Forecast

Previous

-11.1 %

February 28 11:30 UTC Released

INInfrastructure Output YY*

Actual

3.4 %

Forecast

Previous

5.60 %

February 28 13:30 UTC 8080m

CAProducer Prices MM

Actual

Forecast

Previous

0.4 %

February 28 13:30 UTC 8080m

CAProducer Prices YY

Actual

Forecast

Previous

2.2 %

February 28 13:30 UTC 8080m

CARaw Materials Prices MM

Actual

Forecast

Previous

6.5 %

February 28 13:30 UTC 8080m

CARaw Materials Prices YY

Actual

Forecast

Previous

17.2 %

February 28 13:30 UTC 8080m

USGDP 2nd Estimate

Actual

Forecast

2.1 %

Previous

1.9 %

February 28 13:30 UTC 8080m

USGDP Cons Spending Prelim

Actual

Forecast

Previous

2.5 %

February 28 13:30 UTC 8080m

USGDP Deflator Prelim

Actual

Forecast

2.1 %

Previous

2.1 %

February 28 13:30 UTC 8080m

USPCE Prices Prelim

Actual

Forecast

2.2 %

Previous

2.2 %

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.