Bitcoin Cash BCH/USD is trading at 590. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin Cash. The test area of the Ichimoku Kinko Hyo signal lines near the level 615 is expected, from which it is expected to attempt a rebound and continue the fall of the BCH/USD cryptocurrency with a target below 480.
Bitcoin Cash forecast & analysis BCH/USD August 11, 2018
An additional signal in favor of the fall of the cryptocurrency will be the test of the upper boundary of the bearish channel. Earlier, a medium strength signal was received for the sale of Bitcoin Cash cryptocurrency, due to the intersection 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 700, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect the acceleration of the fall in quotations BCH/USD stands with the breakdown of the support area and closing below the level of 545.
Bitcoin Cash forecast & analysis BCH/USD August 11, 2018 suggests an attempt to correct the cryptocurrency and test level 615, from which it is expected to continue the decline of the Bitcoin Cash with a potential target near the level of 480, the abolition of the decline option will make a strong growth and breakdown of the area 700.