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FxWirePro: BTC/CNY takes support near trend line, good to sell on rallies

BTC/CNY is seen trading above on Friday and the pair has broken major support at 7793 (21- day EMA) and declined till 7510 (BTCCHINA). It is currently trading around 7659 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 7772

Kijun-Sen level: 7707 

Major reversal level -6911 (89- day EMA)

Long-term trend remains to be bullish. BTC/CNY has taken support near trend line and any break below targets 7300/7020.

Major resistance is around 7924 (61.8% retracement of 8177 and 7510) and any break above will take the pair till 8000/8275 (88.6% retracement of 8400 and 7310)/ 8400. Short term support is seen at 7510 (trend line joining 6434 and 7310) and any break below will drag the pair till 7310 (Mar 10th 2017 low)/7020.

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2017-04-27 10:34:50
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2017-04-27 09:43:27
0m
Fintech Week Chicago

April 27 10:00 UTC Released

DEBW State CPI YY*

Actual

2.0 %

Forecast

Previous

1.6 %

April 27 10:00 UTC Released

DEBW State CPI MM*

Actual

0.0 %

Forecast

Previous

0.3 %

April 27 11:45 UTC 5757m

EZECB Refinancing Rate*

Actual

Forecast

0.00 %

Previous

0.00 %

April 27 11:45 UTC 5757m

EZECB Deposit Rate*

Actual

Forecast

-0.4 %

Previous

-0.4 %

April 27 12:00 UTC 7272m

DECPI Prelim MM

Actual

Forecast

-0.1 %

Previous

0.2 %

April 27 12:00 UTC 7272m

DECPI Prelim YY

Actual

Forecast

1.9 %

Previous

1.6 %

April 27 12:00 UTC 7272m

DEHICP Prelim MM

Actual

Forecast

-0.1 %

Previous

0.1 %

April 27 12:00 UTC 7272m

DEHICP Prelim YY

Actual

Forecast

1.9 %

Previous

1.5 %

April 27 12:00 UTC 7272m

BRIGP-M Inflation Index*

Actual

Forecast

-1 %

Previous

0.01 %

April 27 12:30 UTC 102102m

USDurable Goods

Actual

Forecast

1.2 %

Previous

1.8 %

Fintech Week Chicago
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