Bitcoin Cash ends the trading week at 233.42 and continues to move as part of the correction. Moving averages indicate a bearish trend. Prices pierced the area between the signal lines down, indicating pressure from the sellers of the coin. As part of the forecast for the BCH/USD rate for the next trading week, we should expect an attempt to reduce the value of the digital asset and test the support area near the level of 105.05. Where again, a rebound is expected and an attempt to grow Bitcoin Cash with a potential target above the level of 340.05.
Bitcoin Cash Forecast and Analysis April 6 — 10, 2020
An additional signal in favor of lowering BCH/USD quotes in the current trading week April 6 — 10, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the option of falling Bitcoin Cash cryptocurrency will be a strong growth and a breakdown of the area of 85.05. This will indicate a breakdown of the support area and a continued decline in BCH/USD quotes from the target below the level of 35.05. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 285.05.
Bitcoin Cash Forecast and Analysis April 6 — 10, 2020 implies an attempt to test the support area near the level of 105.05. Then continued growth to the area above the level of 340.05. An additional signal in favor of the rise in Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 85.05. This will indicate a continued decline in cryptocurrency with a target below the level of 35.05.
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