Bitcoin Cash BCH/USD is trading at 771. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin Cash. Ichimoku Kinko Hyo signal line area test is near the level of 790, from which it is expected to attempt a rebound and continue the fall of the BCH/USD cryptocurrency with a target below the level of 675.
Bitcoin Cash forecast & analysis BCH/USD August 1, 2018
An additional signal in favor of the fall of the cryptocurrency will come from the resistance area test, as well as the lower bound of the «Triangle» model. Earlier, a medium strength signal was received for the sell of Bitcoin Cash cryptocurrency, due to the crossing of signal lines at 810 level.
The cancellation of the variant of the BCH/USD quotes drop will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the level of 835, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect to accelerate the fall in quotations BCH/USD is with the breakdown of the support area and closing below the level of 725.