BCH/USD are trading at 376.83 and continue to move as part of the growth and formation of the «Triangle» model. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $6 969 759 738. Moving averages indicate the presence of a short-term bullish trend in Bitcoin Cash. Prices push away from the area between the signal lines, which indicates pressure from buyers and a potential upward rebound. As part of the cryptocurrency rate forecast for February 5, 2020, one should expect an attempt to develop an asset value correction and a test of the support level near the 335.05 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 495.05.
Bitcoin Cash Forecast and Analysis BCH/USD February 5, 2020
An additional signal in favor of the growth of quotations 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 boundary of the «Triangle» model. Cancellation of the option to raise the cryptocurrency rate of Bitcoin Cash on February 5, 2020 will be a fall and a breakdown of the area of 305.05. This will indicate a breakdown of the support area and a continued decline in the cryptocurrency rate with a potential target below 265.05. With the breakdown of the resistance area and the closing of quotations above the level of 405.05, we should expect confirmation of the development of an upward trend in Bitcoin Cash and going beyond the «Triangle» model.
Bitcoin Cash Forecast and Analysis BCH/USD February 5, 2020 involves an attempt to test the support area near the level of 335.05. Where can we expect a rebound and continued growth of BCH/USD to the area above the level of 495.05. 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 305.05. This will indicate a continued decline in cryptocurrency with a potential target below 265.05.
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