BCH/USD are trading at 221.29 and continue to move as part of the correction and the formation of the «Triangle» model. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $4 016 019 449. Moving averages indicate the presence of a short-term bearish trend in Bitcoin Cash. As part of the cryptocurrency rate forecast for October 8, 2019, one should expect an attempt to increase the value of the asset and test the resistance level near the area of 228.55. Where again we should expect a rebound and continued fall of the digital asset Bitcoin Cash with a potential target below the level of 175.05.
Bitcoin Cash Forecast and Analysis BCH/USD October 8, 2019
An additional signal in favor of falling quotes of the digital asset BCH/USD will be a test of a downward trend line on the relative strength index (RSI). The second signal in favor of lowering the BCH/USD quotes will be a rebound from the upper boundary of the «Triangle» model. Cancellation of the option to drop the Bitcoin Cash cryptocurrency rate on October 8, 2019 will be a strong growth and a breakdown of the area of 250.05. This will indicate a breakdown of the upper boundary of the «Triangle» model and continued growth of the cryptocurrency rate with a potential target above the area of 280.05. With the breakdown of the support area and closing of quotes below the level of 205.05, we should expect confirmation of the development of a downward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD October 8, 2019 implies an attempt to test the resistance area near the level of 228.55. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 175.05. An additional signal in favor of reducing the digital asset of 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 a breakdown of the area of 250.05. This will indicate a continued rise in the cryptocurrency with a potential target above the level of 280.05.
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