BCH/USD are trading at 437.06 and continue to move as part of the growth and bullish channel. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $7 831 107 580. 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 7, 2020, we should expect an attempt to develop a downward correction of the asset value and a test of the support level near the area of 405.05. Where again we should expect a rebound and continued growth of the digital asset Bitcoin Cash with a potential target above the level of 545.05.
Bitcoin Cash Forecast and Analysis BCH/USD February 7, 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 border of the rising channel. Cancellation of the option to raise the Bitcoin Cash cryptocurrency rate on February 7, 2020 will be a fall and a breakdown of the 365.05 area. 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 295.05. With the breakdown of the resistance area and the closing of quotations above the level of 465.05, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD February 7, 2020 suggests an attempt to test the support area near the level of 405.05. Where can we expect a rebound and continued growth of BCH/USD to the area above the level of 545.05. 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 365.05 area. This will indicate a continued decline in cryptocurrency with a potential target below the level of 295.05.
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