Bitcoin Cash BCH/USD is trading at 720. The cryptocurrency is trading 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 755 level, 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 640.
Bitcoin Cash forecast & analysis BCH/USD August 4, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance area, as well as a test of the upper boundary of the bearish channel. 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 BCH/USD fall will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the level of 800, which will indicate a change in the downward 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 690.
Bitcoin Cash forecast & analysis BCH/USD August 4, 2018 suggests an attempt to correct the crypto currency and the test level of 755, from which it is expected to continue the decline of the Bitcoin Cash exchange rate with a potential target near the level of 640, the cancellation of the decline option will cause a strong growth and breakdown of the region 800.