Bitcoin Cash BCH/USD is trading at 2542. 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 near the level 2450 is expected to be tested near the level of 2450, from which it is expected to attempt a rebound and continue growth with the target close to 3200.
Bitcoin Cash forecast & analysis on January 7, 2018
In favor of the growth of quotations is the formation of the reversal model «Head and Shoulders», which indicates the potential growth of the cryptocurrency in the area above the level of 3600 A confirmation of the growth will be a breakdown of the «Neckline» of the reversal pattern and a close above the level of 2700.
Earlier, a medium strength signal was obtained for sell of the Bitcoin Cash cryptocurrency, by crossing the signal lines at the level of 2350. Cancellation of the variant of growth of quotations BCH/USD will be a breakdown at the level of 2100, which will indicate the continuation of the drop in quotes and the cancellation of the reversal pattern.