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FxWirePro: BTC/CNY hits fresh all-time high, jump till 12000 likely

Thursday, May 18, 2017 12:10 PM UTC

BTC/CNY has broken major resistance at 11277 and hits fresh all- time high at 11499 levels (BTCCHINA). It is currently trading around 11339 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 10118

Kijun-Sen level: 9171

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 seen at 11518 (113% retracement of 11277 and 9633) and any break above targets 12000/12558. Short term support is around 10685 (23.6% retracement of 8060 and 11499) and any break below will drag the pair till 10210 (10 – day MA) /9630.

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Digital Currency Revolution

FxWirePro: BTC/CNY hits fresh all-time high, jump till 12000 likely

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