BCH/USD are trading at 318.80 and continue to move as part of the fall and the beginning of the development of the head and shoulders reversal pattern. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $5 837 007 803. Moving averages indicate the presence of a short-term bullish trend in Bitcoin Cash. Prices broke through the area between the signal lines, indicating strong pressure from sellers. As part of the cryptocurrency rate forecast for January 24, 2020, one should expect an attempt to develop the growth of the asset value and test the resistance level near the 325.05 area. Where again we should expect a rebound and continued decline in the Bitcoin Cash digital asset with a potential target below the level of 205.05.
Bitcoin Cash Forecast and Analysis BCH/USD January 24, 2020
An additional signal in favor of reducing the quotes of the digital asset BCH/USD is a test of a downward trend line on the relative strength index (RSI). The second signal in the fall in the growth of BCH/USD quotes will be a rebound from the «Neck Line» of the «Head and Shoulders» reversal pattern. Cancellation of the option to drop the Bitcoin Cash cryptocurrency rate on January 24, 2020 will be a strong growth and a breakdown of the 365.05 area. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the area of 410.05. 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 a downward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD January 24, 2020 involves an attempt to test the resistance area near the level of 325.05. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 205.05. An additional signal in favor of the fall of the digital asset Bitcoin Cash 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 a breakdown of the 365.05 area. This will indicate a continued rise in cryptocurrency with a potential target above the level of 410.05.
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