Bitcoin Cash Forecast and Analysis August 24 — 28, 2020



Bitcoin Cash ends the trading week at 292.53 and continues to move within the correction and the upward channel. Moving averages indicate a bullish 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 a test of the support area near the level of 265.55. From where the rebound and growth of the fall of Bitcoin Cash is expected again with a potential target above the level of 465.05.

Bitcoin Cash Forecast and Analysis August 24 — 28, 2020

An additional signal in favor of raising the BCH/USD quotes in the current trading week of August 24 — 28, 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 border of the ascending channel. Cancellation of the growth option for the Bitcoin Cash cryptocurrency in the next trading week will be a fall and a breakdown of the 220.05 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below 175.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 355.05.

Bitcoin Cash Forecast and Analysis August 24 — 28, 2020

Bitcoin Cash Forecast and Analysis August 24 — 28, 2020 suggests an attempt to test the support area near 265.55. Then continued growth to the area above the level of 465.05. An additional signal in favor of a 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 220.05 area. This will indicate a continued decline in cryptocurrency with a target below 175.05.


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