Bitcoin Cash BCH/USD are trading at 321.07 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $5 781 982 129. Moving averages indicate the presence of a short-term bearish trend in Bitcoin Cash. As part of the cryptocurrency rate forecast for August 2, 2019, one should expect an attempt to continue to decline and test the support level near the area of 305.00. Where again we should expect a rebound and continued growth of the digital asset Bitcoin Cash with a potential target above the level of 440.00.
Bitcoin Cash Forecast and Analysis BCH/USD August 2, 2019
An additional signal in favor of the growth of BCH/USD quotes will be a test of the ascending trend line on the relative strength index (RSI). The second signal in favor of the growth of BCH/USD quotes will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the option to grow the Bitcoin Cash cryptocurrency rate on August 2, 2019 will be a fall and a breakdown of the area of 280.00. This will indicate a breakdown of the support area and a continued decline in the cryptocurrency rate with a potential target below the area of 245.00. With the breakdown of the resistance area and the closing of quotations above the level of 350.00, we should expect acceleration of the development of the upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD August 2, 2019 implies an attempt to test the support area near the level of 305.00. Where can we expect a rebound and continued growth of BCH/USD to the area above the level of 440.00. 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 280.00. This will indicate a continued decline in cryptocurrency with a potential target below the level of 245.00.
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