BTC/CNY has once again recovered after making a low of 19108 levels (BTCCHINA). The pair shown a minor jump till 19600 and is currently trading around 19600 at the time of writing.

Ichimoku analysis of 4-Hours shows:

Tenkan-Sen level: 19498

Kijun-Sen level: 19527

Minor reversal level -16500 (Jun 3rd low)

Long-term trend remains to be bullish. BTC/CNY downside capped by 55 EMA and any close below confirms minor bearishness.

Minor resistance is around 19890 (61.8% retracement of 20400 and 19007) and any break above targets 20400 20999 (Jun 11th high)/20999 (JUN 11TH 2017 high). Short term support is seen at 19215 (55- 4H EMA) and any break below will drag the pair till 18898 (89- EMA)/18577 (Jun 18th low).

It is good to buy on dips around 19400 with SL around 18890 for the TP of 20400/20990.