Bitcoin Cash ends the trading week at 313.99 and continues to move as part of the decline and the rising channel. Moving averages indicate a lateral trend. As part of the forecast for the BCH/USD rate for the next trading week, we should expect an attempt to correct and test the resistance area near the level of 345.00. Where again, a rebound is expected and an attempt to continue the fall of Bitcoin Cash with a potential target below the level of 125.00.
Bitcoin Cash Forecast and Analysis August 12 — 16, 2019
An additional signal in favor of falling BCH/USD quotes for the current trading week on August 12 — 16, 2019 will be a test of the resistance area 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 to reduce the Bitcoin Cash cryptocurrency will be a strong growth and a breakdown of the area of 405.00. This will indicate a breakdown of the lower boundary of the rising channel and continued growth of BCH/USD quotes. A confirmation of the cryptocurrency decline will be a breakdown of the support area and closing of quotations below the level of 275.00.
Bitcoin Cash Forecast and Analysis August 12 — 16, 2019 implies an attempt to test the resistance area near the level of 345.00. Then, continued growth to the area below the level of 125.00. An additional signal in favor of reducing Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the area of 405.00. This will indicate continued cryptocurrency growth with a target above the level of 465.00.
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