Bitcoin Cash BCH/USD is trading at 747. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin Cash. The test area of Ichimoku Kinko Hyo signal lines near the level 780 is expected, 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 2, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance area, as well as a rebound from the lower boundary 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 the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the level of 830, 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.
Bitcoin Cash forecast & analysis BCH/USD August 2, 2018 suggests an attempt at correction of the cryptocurrency and the 780 level test, from which it is expected to continue the decline of the Bitcoin Cash exchange rate with the potential target near the level of 675, the abolition of the decline option will make a strong growth and breakdown of the region 830.