BCH/USD are trading at 426.16 and continue to move as part of the correction and the ascending channel. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $7,936,354,844. Moving averages indicate a short-term bullish trend for Bitcoin Cash. Prices broke through the area between the signal lines upward, which indicates pressure from buyers of the asset and a potential continuation of the rise from the current levels. As part of the cryptocurrency rate forecast for February 5, 2021, we should expect an attempt to develop an asset price correction and test the support level near the 405.05 area. Where can we expect a rebound and continued growth in the rate of the Bitcoin Cash digital asset with a potential target above the level of 585.05.
Bitcoin Cash Forecast and Analysis BCH/USD February 5, 2021
An additional signal in favor of the growth of quotations of the digital asset BCH/USD is a test of the trend line on the relative strength index (RSI). The second signal in favor of raising the BCH/USD quotes will be a rebound from the lower border of the ascending channel. Cancellation of the growth option for the Bitcoin Cash cryptocurrency on February 5, 2021 will be a fall and a breakdown of the 365.05 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the 315.05 area. With the breakdown of the resistance area and closing of quotations above the level of 475.55, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD February 5, 2021 suggests an attempt to test the support area near 405.05. Where can we expect a rebound and continued growth in BCH/USD to the area above the level of 585.05. An additional signal in favor of a rise in the Bitcoin Cash digital asset 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 365.05 area. This will indicate a continued fall in the cryptocurrency with a potential target below the level of 315.05.
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