BTC/CNY is seen trading slightly below in red on Friday and the pair has broken 89- day EMA and declined till 6751 (BTCCHINA). It is currently trading around 6780 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 7348

Kijun-Sen level: 7508

Major reversal level -6943 (89- day EMA)

Long-term trend remains to be bullish. BTC/CNY faces major support at 6600 and any break will drag the pair till 6229.

Major resistance is around 7289 (55- day EMA) and any break above will take the pair till 7566 (21- day EMA) /7710 (61.8% retracement of 8400 and 6616)/8177 (Mar 13th, 2017). Short term support is seen at 6600 (cloud bottom) and any break below will drag the pair down till 6610 (Mar 18th, 2017 low)/ 6430 (Feb 10th low)/6220.