BCH/USD are trading at 376.492 and continue to move as part of the fall and the bearish channel. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $6 852 266 136. Moving averages indicate the presence of a short-term bullish trend in Bitcoin Cash. Prices are testing the area between the signal lines, which indicates pressure from the sellers, however, the potential for upward rebound is still there. As part of the cryptocurrency rate forecast for February 21, 2020, we should expect an attempt to develop a bullish correction of the asset value and a test of the resistance level near the area of 405.05. Where again we should expect a rebound and continued decline in the Bitcoin Cash digital asset with a potential target below the level of 315.05.
Bitcoin Cash Forecast and Analysis BCH/USD February 21, 2020
An additional signal in favor of reducing the quotes of the digital asset BCH/USD is 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 bearish channel. Cancellation of the option to reduce the Bitcoin Cash cryptocurrency rate on February 21, 2020 will be a strong growth and a breakdown of the area of 455.05. This will indicate a breakdown of the resistance area and a continued rise in the cryptocurrency rate with a potential target above 495.05. With the breakdown of the support area and closing of quotes below the level of 340.05, we should expect confirmation of the development of a downward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD February 21, 2020 involves an attempt to test the resistance area near the level of 405.05. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area above the level of 315.05. An additional signal in favor of reducing the digital asset of Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the area of 455.05. This will indicate a continued rise in the cryptocurrency with a potential target above the level of 495.05.
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