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FxWirePro: BTC/CNY trades extremely bullish, further jump till 6600 is possible

Friday, December 23, 2016 11:35 AM UTC

BTC/CNY is seen trading well above on Friday. The pair has broken a minor resistance of 6200 and jumped till 6448 levels (BTCCCHINA). BTC/CNY has closed well above 6000 yesterday and is currently trading around 6418.46 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 5776

Kijun-Sen level: 5639

Minor resistance – 6450

Trend reversal level - (100 days MA) – 4775

Long-term trend remains to be bullish. BTC/CNY is trading
slightly above 161.8% fibo and a jump till 6525/6600 is possible.

Major resistance -6450 any break above that level will take the pair to next level till 6525 (161.8% retracement of 6325 and 6448). Short-term support is seen at 6160 (23.6% retracement of 6448 and 5230) and any break below targets 5933 (3- day EMA)/5776 (daily Tenken-Sen).

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Digital Currency Revolution

FxWirePro: BTC/CNY trades extremely bullish, further jump till 6600 is possible

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