BTC/CNY is seen trading slightly above on Monday. The pair breaks ichimoku cloud top and jumped till 7281 yesterday (BTCCHINA). It is currently trading around 7272.71 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 6809

Kijun-Sen level: 6087

Major reversal level -5933 (89- day EMA)

Long-term trend remains to be bullish. BTC/CNY faces strong resistance at 7366 (61.8% fibo) and any break above targets 7500.

Major resistance is around 7366 (61.8% retracement of 8896 and 4893) and any break above that level will take the pair to next level till 7500. Short term support is seen at 6919 (7- day MA) and any break below targets 6750 (10- day MA)/6488 (30- day EMA).