BTC/SGD pair has broken major resistance 1080 and spiked suddenly from that level (ITBIT). It is currently trading around 1097 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1056.87

Kijun-Sen level: 1026.19

Trend reversal level - (100 day MA) – 900

Long-term trend remains to be bullish. BTC/SGD trades slightly above 1080 and a jump till 1160/1200 is possible.

Major resistance is around 1100 and any break above that level will take the pair to next level till 1160 (127.2% retracement of 1051.92 and 650)/1204 (138.2% retracement of 1051.92 and 650). Short-term support is seen at 1053 (5- day MA) and any break below targets 1039 (21- day MA)/1023 (daily Kijun-Sen)/973 (Nov 13th 2016 low).