Bitcoin Cash BCH/USD is trading at 575. 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 620 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 500.
Bitcoin Cash forecast & analysis BCH/USD August 9, 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 sell of Bitcoin Cash cryptocurrency, due to the crossing of signal lines at 810 level.
The cancellation of the variant of the BCH/USD quotation drop will be the breakdown of the upper Ichimoku Kinko Hyo Cloud and the closing above the level of 725, 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 540.
Bitcoin Cash forecast & analysis BCH/USD August 9, 2018 suggests an attempt to correct the cryptocurrency and test level 620, from which it is expected to continue the decline in the rate of Bitcoin Cash with a potential target near the level of 500, the abolition of the decline option will make a strong growth and breakdown of the region 725.