BTC/CNY is seen trading high above on Friday. The pair has broken major psychological resistance at 8000 and jumped till 8350 levels (BTCCHINA). It is currently trading around 8345 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 7677

Kijun-Sen level: 7252

Major reversal level -6520 (89- day EMA)

Long-term trend remains to be bullish. BTC/CNY trades well above 8000 and a jump till 8896 (Jan 5th, 2017 high) likely.

Major resistance is around 8300 (161.8% retracement of 7589 and 6434)/8439 and any violation above targets 8439 (88.6% retracement of 8896 and 4893). Short term support is seen at 7830 (5- day MA) and any break below targets 7684 (10- day MA)/7300 (Feb 25th 2017 low)/7250 (daily Kijun-Sen).