Bitcoin Cash BCH/USD is trading at 569. 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 600, 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 430.
Bitcoin Cash forecast & analysis BCH/USD August 12, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the upper boundary of the channel, as well as a test of the resistance level. 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 670, 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 stands with the breakdown of the support area and closing below the level of 520.
Bitcoin Cash forecast & analysis BCH/USD August 12, 2018 suggests an attempt at correction of the cryptocurrency and the level 600 test, from which it is expected to continue the decline of the Bitcoin Cash exchange rate with a potential target near the level of 430, the cancellation of the decline option will cause a strong growth and breakdown of the area 670.