Bitcoin Cash BCH/USD is traded at the level of 703. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Bitcoin Cash. The test area of Ichimoku Kinko Hyo signal lines near the level 720 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 610.
Bitcoin Cash forecast & analysis BCH/USD August 8, 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 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 765, 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 the closure below the level of 665.
Bitcoin Cash forecast & analysis BCH/USD August 8, 2018 suggests an attempt to correct the cryptocurrency and test level 720, where we can expect the continuation of the fall of the Bitcoin Cash rate with a potential target near the level of 610, the cancellation of the decline option will make a strong growth and breakdown of the region 765.