Bitcoin Cash BCH/USD is traded at the level of 1644. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin Cash. The test area of Ichimoku Kinko Hyo signal lines near the level of 1550 is expected, from which it is expected to attempt a rebound and continue growth with a target above the 2000 level.
Bitcoin Cash forecast & analysis BCH/USD May 11, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the support level, as well as the formation of the reversal model «Head and Shoulders». Earlier, a weak signal was received for sell of the Bitcoin Cash cryptocurrency, due to the crossing of signal lines at the level of 1600.
The cancellation of the growth of BCH/USD quotations will be the breakdown of the lower boundary of the indicator Cloud and the closing below the level of 1450, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations BCH/USD stands with the breakdown of the resistance area and closing above the level of 1700.
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