Bitcoin Cash BCH/USD are trading at 300.94 and continue to move as part of an upward correction. Cryptocurrency capitalization at the time of the publication of the forecast is $5 490 796 542. Moving averages indicate the presence of a short-term downward trend in Bitcoin Cash. As part of the cryptocurrency rate forecast for August 16, 2019, one should expect an attempt to grow and test the resistance level near the area of 315.00. Where again we should expect a rebound and continued fall of the digital asset Bitcoin Cash with a potential target below the level of 240.00.
Bitcoin Cash Forecast and Analysis BCHUSD August 16, 2019
An additional signal in favor of reducing BCH/USD quotes will be a test of a downward trend line on the relative strength index (RSI). The second signal in favor of falling BCHUSD 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 August 16, 2019 will be a strong growth and a breakdown of the 335.00 area. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the area of 385.00. With the breakdown of the support area and closing of quotes below the level of 275.00, we should expect confirmation of the development of a downward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCHUSD August 16, 2019 implies an attempt to test the resistance area near the level of 315.00. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 240.00. An additional signal in favor of the fall of 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 335.00. This will indicate a continued rise in the cryptocurrency with a potential target above the level of 385.00.
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