Bitcoin Cash BCH/USD is trading at 1282. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin Cash. Ichimoku Kinko Hyo signal line area test is expected near the level of 1300, from which it is expected to attempt a rebound and continue falling of the cryptocurrency with a target below the level of 950.
Bitcoin Cash forecast & analysis BCH/USD May 17, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance area, as well as the sell of the head and shoulders reversal model. Earlier, a strong signal was received for sell of the Bitcoin Cash cryptocurrency, by crossing the signal lines at the level of 1400.
The cancellation of the BCH/USD fall will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo indicator Cloud and the close above the 1600 level, which indicates a change in 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 1200.