BCHUSD are trading at 305.46 and continue to move as part of the correction and the formation of the «Triangle» model. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $5 486 021 469. Moving averages indicate the presence of a short-term downward trend in Bitcoin Cash. As part of the cryptocurrency rate forecast for August 28, 2019, one should expect an attempt to continue growth 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 225.00.
Bitcoin Cash Forecast and Analysis BCHUSD August 28, 2019
An additional signal in favor of reducing BCHUSD 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 28, 2019 will be a strong growth and a breakdown of the area of 355.00. This will indicate a breakdown of the resistance area, as well as the upper border of the bearish channel and the continued growth of the cryptocurrency rate with a potential target above the area of 405.00. With the breakdown of the lower boundary of the «Triangle» model and the closing of quotations below the level of 255.00, we should expect confirmation of the development of a downward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCHUSD August 28, 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 BCHUSD to the area below the level of 225.00. 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 area of 355.00. This will indicate a continued rise in cryptocurrency with a potential target above the level of 405.00.
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