Bitcoin Cash BCH/USD are trading at 119 and continue to move as part of the decline and the beginning of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $2 143 851 592. Moving averages indicate a bearish trend in Bitcoin Cash. At the moment, we should expect an attempt to test the resistance level near the area of 125. Where again we should expect a rebound and the continuation of the fall of the Bitcoin Cash rate with the goal below the level of 100.
Bitcoin Cash Forecast and Analysis BCH/USD January 23, 2019
In favor of the fall in BCH/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. As well as a rebound from the lower boundary of the model «Triangle». Cancellation of the option of falling Bitcoin Cash will be a strong growth and breakdown of the area 135. This will indicate the breakdown of the upper limit of the model and the continued growth of the cryptocurrency rate with a target above area 165. With the breakdown of the support area and closing of quotes below 110, we should expect confirmation of the development of the downward trend on Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD January 23, 2019 involves an attempt to test the resistance area near the level of 125. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 100. An additional signal in favor of Bitcoin Cash falling will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of the area 135. This will indicate a continued growth of cryptocurrency with a potential target above the level of 165.