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BTC/CNY has broken all time high of 11650 and hits fresh high at 11997 levels (BTCCHINA). It is currently trading around 11939 at the time of writing.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 10486
Kijun-Sen level: 9357
Major reversal level -9410 (21 EMA)
Long-term trend remains to be bullish. BTC/CNY hits fresh all time high and further jump till 12000 likely.
Major resistance is around 12000 and any break above targets 12740 (138.2% projection from 6119 to 9266 to 8400). Short term support is seen at 11440 (23.6% retracement of 9630 and 11499) and any break below will drag the pair till 11060 (23.6% retracement of 11997/8060).
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FxWirePro: BTC/CNY trades higher, good to buy on dips
Friday, May 19, 2017 7:14 AM UTC
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