BCH/USD are trading at 219.61 and continue to move as part of the correction and the downward channel. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $4 051 422 021. Moving averages indicate the presence of a short-term bearish trend in Bitcoin Cash. Prices pushed from the area between the signal lines, indicating pressure from buyers. As part of the cryptocurrency rate forecast for April 16, 2020, one should expect an attempt to develop an asset value correction and a test of the resistance level near the area of 245.05. Where again we should expect a rebound and continued decline in the Bitcoin Cash digital asset with a potential target below the level of 105.05.
Bitcoin Cash Forecast and Analysis BCH/USD April 16, 2020
An additional signal in favor of falling quotes of the digital asset BCH/USD is a test of the trend line on the relative strength index (RSI). The second signal in favor of falling BCH/USD quotes will be a rebound from the upper border of the downward channel. Cancellation of the option to drop the Bitcoin Cash cryptocurrency rate on April 16, 2020 will be a strong growth and a breakdown of the area of 300.55. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the area of 345.05. With the breakdown of the support area and closing of quotes below the level of 185.05, we should expect confirmation of the development of a downward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD April 16, 2020 suggests an attempt to test the resistance area near the level of 245.05. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 105.05. An additional signal in favor of the fall of the digital asset Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and a breakdown of the area of 300.55. This will indicate a continued rise in the cryptocurrency with a potential target above the level of 345.05.
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