Bitcoin Cash ends the trading week at 328.94 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 support area near the level of 215.00. Where again, a rebound is expected and an attempt to continue the growth of Bitcoin Cash with a potential target above the level of 545.00.
Bitcoin Cash Forecast and Analysis August 5 — 9, 2019
An additional signal in favor of the growth of BCH/USD quotes for the current trading week on August 5 — 9, 2019 will be a test of the support 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 growth option for the Bitcoin Cash cryptocurrency will be a fall and a breakdown of the area of 175.00. This will indicate a breakdown of the lower border of the rising channel and a continued fall in BCH/USD quotes. Confirmation of the rise in cryptocurrency will be a breakdown of the downward trend line on the relative strength index (RSI) and closing quotes above the level of 395.00.
Bitcoin Cash Forecast and Analysis August 5 — 9, 2019 implies an attempt to test the support area near the level of 215.00. Then, continued growth to the area above the level of 545.00. An additional signal in favor of the growth of Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the ascent option will be a fall and a breakdown of the area of 175.00. This will indicate a continued decline in cryptocurrency with a target below the level of 105.00.
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