BCH/USD are trading at 323.66 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 $5 962 207 801. 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 28, 2020, we should expect an attempt to develop the growth of the asset value and test the resistance level near the 360.05 area. Where again we should expect a rebound and continued decline in the Bitcoin Cash digital asset with a potential target below 255.00.
Bitcoin Cash Forecast and Analysis BCH/USD February 28, 2020
An additional signal in favor of lowering the quotes of the digital asset BCH/USD is the resistance line test 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 February 28, 2020 will be a strong growth and a breakdown of the area of 395.05. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the area of 485.05. With the breakdown of the support area and closing of quotes below the level of 285.05, we should expect confirmation of the development of the bearish trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD February 28, 2020 involves an attempt to test the resistance area near the level of 360.05. 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 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 a breakdown of the area of 395.05. This will indicate a continued rise in the cryptocurrency with a potential target above the level of 485.05.
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