Bitcoin Cash ends the trading week at 313.02 and continues to move as part of the growth and the beginning of the development of the «Triangle» model. Moving averages indicate a bearish trend. Prices have broken the area between the signal lines upwards, which indicates pressure from buyers of the coin and a potential continuation of the rise. As part of the BCH/USD rate forecast 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 255.05. From where the rebound and growth of the fall of Bitcoin Cash is expected again with a potential target above the level of 455.05.
Bitcoin Cash Forecast and Analysis August 10 — 14, 2020
An additional signal in favor of raising the BCH/USD quotes in the current trading week August 10 — 14, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the «Triangle» pattern. Cancellation of the growth option for Bitcoin Cash cryptocurrency in the next trading week will be a fall and a breakdown of the 180.55 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below 110.55. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 335.05.
Bitcoin Cash Forecast and Analysis August 10 — 14, 2020 suggests an attempt to test the support area near 255.05. Then continued growth to the area above the level of 455.05. 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 180.55 area. This will indicate a continued decline in cryptocurrency with a target below 110.55.
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