BCH/USD are trading at 209.04 and continue to move as part of the growth and the beginning of the development of the bullish «Wolfe Wave» model. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $3 834 196 252. Moving averages indicate the presence of a short-term bearish trend in Bitcoin Cash. However, prices broke through the area between the signal lines, which indicates pressure from buyers. As part of the cryptocurrency forecast for December 31, 2019, we should expect an attempt to fall in the value of the asset and test the support level near the 185.05 area. Where again we should expect a rebound and continued growth of the digital asset Bitcoin Cash with a potential target above the level of 255.05.
Bitcoin Cash Forecast and Analysis BCH/USD December 31, 2019
An additional signal in favor of the growth of quotes of the digital asset BCH/USD is the test of the upward 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 border of the bullish «Wolfe Wave» pattern. The cancellation of the growth option for the Bitcoin Cash cryptocurrency rate on December 31, 2019 will be the fall and the breakdown of the 155.05 area. 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 110.05. With the breakdown of the resistance area and the closing of quotations above 215.05, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD December 31, 2019 implies an attempt to test the support area near the level of 185.05. Where can we expect a rebound and continued growth of BCH/USD to the area above the level of 255.05. An additional signal in favor of raising the digital asset Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 155.05 area. This will indicate a continued decline in cryptocurrency with a potential target below 110.05.
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