Bitcoin Cash BCH/USD is trading at 1381. 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 near the level 1450 is expected to be tested, from which it is expected to attempt a rebound and continue falling of the cryptocurrency with a target below the level of 1000.
Bitcoin Cash forecast & analysis BCH/USD May 16, 2018
An additional signal in favor of the fall of the cryptocurrency will be a resistance level test, as well as the formation of the «Head and Shoulders» reversal model. 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 variant of the BCH/USD quotation drop will be the breakdown of the upper Ichimoku Kinko Hyo indicator Cloud and the closing above the level of 1650, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotes BCH/USD stands with the breakdown of the support area and closing below the level of 1250.