Bitcoin Cash BCH/USD is traded at the level of 1629. The cryptocurrency is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in Bitcoin Cash. The test area of Ichimoku Kinko Hyo signal lines near the 1600 level 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 8, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the lower border of the channel, as well as a test of the support level. Earlier, a medium strength signal was obtained for the buy of Bitcoin Cash cryptocurrency, by crossing the signal lines at level 1400.
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 1350, which will indicate a change in the bullish trend in favor of a bearish trend. Expect the acceleration of the growth of quotations BCH/USD stands with the breakdown of the resistance area and the closing above the level of 1800.
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