BCH/USD aare trading at 211.29 and continue to move as part of the correction and the downward channel. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $3 884 937 178. Moving averages indicate the presence of a short-term bearish trend in Bitcoin Cash. Prices are still pushing away from signal lines, and bear pressure remains. As part of the cryptocurrency forecast for December 4, 2019, we should expect an attempt to reduce the value of the asset and test the support level near the 190.05 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 280.05.
Bitcoin Cash Forecast and Analysis BCH/USD December 4, 2019
An additional signal in favor of the growth of quotes of the digital asset BCH/USD is the test of the broken trend line on the relative strength index (RSI). The second signal in favor of raising BCH/USD quotes will be the completion of the formation of the «Double Bottom» reversal pattern. The cancellation of the growth option for the Bitcoin Cash cryptocurrency rate on December 4, 2019 will be a fall and a breakdown of the area of 165.05. This will indicate a breakdown of the lower border of the downward channel and a continued decline in the cryptocurrency rate with a potential target below 130.55. With the breakdown of the resistance area and closing of quotes above the level of 245.05, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD December 4, 2019 implies an attempt to test the support area near the level of 190.05. Where can we expect a rebound and continued growth of BCH/USD to the area above the level of 280.05. 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 area of 165.05. This will indicate a continued decline in cryptocurrency with a potential target below the level of 130.55.
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