Bitcoin Cash BCH/USD are trading at 294.76 and continue to move as part of the fall. Cryptocurrency capitalization at the time of the publication of the forecast is $5 339 220 640. Moving averages indicate the presence of a short-term downward trend in Bitcoin Cash. As part of the cryptocurrency rate forecast for August 22, 2019, one should expect an attempt to grow and test the resistance level near the area of 305.00. Where again we should expect a rebound and continued fall of the digital asset Bitcoin Cash with a potential target below the level of 220.00.
Bitcoin Cash Forecast and Analysis BCHUSD August 22, 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 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 August 22, 2019 will be a strong growth and a breakdown of the 325.00 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 405.00. With the breakdown of the support area and closing of quotes below 265.00, we should expect confirmation of the development of a downward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCHUSD August 22, 2019 suggests an attempt to test the resistance area near the level of 305.00. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below 220.00. 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 the breakdown of the 325.00 area. This will indicate a continued rise in cryptocurrency with a potential target above the level of 405.00.
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