Bitcoin Cash ends the trading week at 267.47 and continues to move within the correction and the upward channel. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines, 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 a digital asset and a test of the support area near the level of 250.55. From where the rebound and growth of the fall of Bitcoin Cash is expected again with a potential target above the level of 470.05.
Bitcoin Cash Forecast and Analysis August 31 — September 4, 2020
An additional signal in favor of raising the BCH/USD quotes in the current trading week August 31 — September 4, 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 Bitcoin Cash cryptocurrency in the next trading week will be a fall and a breakdown of the 215.05 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below 165.55. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 365.05.
Bitcoin Cash Forecast and Analysis August 31 — September 4, 2020 implies an attempt to test the support area near 250.55. Then continued growth to the area above the level of 470.05. 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 215.05 area. This will indicate a continued decline in cryptocurrency with a target below 165.55.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link