Bitcoin Cash BCH/USD is traded at 2,600. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin Cash. Ichimoku Kinko Hyo Cloud is expected to be tested near the level of 2400, from which it is expected to attempt a rebound and continue growth with the target close to 3200.
Bitcoin Cash forecast & analysis on January 12, 2018
Earlier, a weak signal was received for the purchase of Bitcoin Cash cryptocurrency, by crossing the signal lines at 2450 level. 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 2300, which will indicate a change in the bullish trend in favor of the bearish trend.
We should not exclude the attempt to form the «Head and Shoulders» pattern. In this case, with the breakdown of the level of 2300, we should expect the continuation of the fall of quotations of the cryptocurrency in the area below the level of 1800 within the framework of the model’s development.