BCH/USD are trading at 329.07 and continue to move as part of the correction and the formation of the bullish «Wave Wave» pattern. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $5 837 674 220. Moving averages indicate the presence of a short-term bearish trend in Bitcoin Cash. Prices have gone far from the area between the signal lines, indicating pressure from sellers. As part of the cryptocurrency rate forecast for February 27, 2020, we should expect an attempt to develop a decrease in the value of the asset and a test of the support level near the area of 305.05. Where again we should expect a rebound and continued growth of the digital asset Bitcoin Cash with a potential target above the level of 435.05.
Bitcoin Cash Forecast and Analysis BCH/USD February 27, 2020
An additional signal in favor of the growth of quotes of the digital asset BCH/USD is the test of the support 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 boundary of the «Wave Wave» model. The cancellation of the growth option for the Bitcoin Cash cryptocurrency rate on February 27, 2020 will be a fall and a breakdown of the area of 275.05. 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 215.05. With the breakdown of the resistance area and the closing of quotations above the level of 375.05, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD February 27, 2020 suggests an attempt to test the support area near the level of 305.05. Where can we expect a rebound and continued growth of BCH/USD to the area above the level of 435.05. 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 growth option will be a fall and a breakdown of the area of 275.05. This will indicate a continued decline in cryptocurrency with a potential target below the level of 215.05.
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