BCH/USD are trading at 289.60 and continue to move as part of the reduction and development of the «Triangle» model. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $5 272 660 220. Moving averages indicate the presence of a short-term bearish trend in Bitcoin Cash. As part of the cryptocurrency rate forecast for August 29, 2019, we should expect an attempt to increase slightly and test the resistance level near the area of 295.00. Where again we should expect a rebound and continued fall of the digital asset Bitcoin Cash with a potential target below the level of 255.00.
Bitcoin Cash Forecast and Analysis BCH/USD August 29, 2019
An additional signal in favor of reducing the 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 29, 2019 will be a strong growth and a breakdown of the area of 315.00. 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 365.00. 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 on August 29, 2019 suggests an attempt to test the resistance area near the level of 295.00. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 255.00. 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 315.00. This will indicate a continued rise in the cryptocurrency with a potential target above the level of 375.00.
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