BCH/USD are trading at 251.74 and continue to move as part of the correction and the formation of the «Head and Shoulders» reversal pattern. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $4 653 680 567. Moving averages indicate the presence of a short-term bullish trend in Bitcoin Cash. Prices are testing the area between the signal lines, which indicates pressure from buyers. As part of the cryptocurrency rate forecast for April 30, 2020, one should expect an attempt to continue the development of a bullish correction of the asset value and test the resistance level near the area of 260.05. Where again we should expect a rebound and continued decline in the Bitcoin Cash digital asset with a potential target below the level of 145.05.
Bitcoin Cash Forecast and Analysis BCH/USD April 30, 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 the completion of the formation of the «Head and Shoulders» model. Cancellation of the option to drop the Bitcoin Cash cryptocurrency rate on April 30, 2020 will be a strong growth and a breakdown of the area of 275.05. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the 325.05 area. 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 April 30, 2020 suggests an attempt to test the resistance area near the level of 260.05. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 145.05. 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 the breakdown of the area of 275.05. This will indicate a continued rise in the cryptocurrency with a potential target above 325.05.
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