Bitcoin Cash BCH/USD is trading at the level of 1005. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin Cash. Ichimoku Kinko Hyo Cloud test is near the 1050 level, from which it is expected to attempt a rebound and continue falling of the cryptocurrency with a target below the level of 880 as part of the formation of the «Head and Shoulders» reversal model.
Bitcoin Cash forecast & analysis BCH/USD June 1, 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 weak signal was received for buy of Bitcoin Cash cryptocurrency, due to the crossing of signal lines at the level of 970.
The cancellation of the variant of the BCH/USD quotations drop will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo indicator Cloud and the closing above the level of 1100, which will indicate the change of the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations BCH/USD stands with the breakdown of the support area and closing below the level of 980.
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