Bitcoin Cash BCH/USD are trading at 406.48 and continue to move as part of a decline and a downward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $7 135 380 572. Moving averages indicate the presence of a short-term downward trend in Bitcoin Cash. As part of the cryptocurrency exchange rate forecast for July 2, 2019, we should expect an attempt to continue the correction and test the resistance level near the 420.00 area. Where can we expect a rebound again and the continuation of Bitcoin Cash digital asset decline with a potential target below the level of 335.00.
Bitcoin Cash Forecast and Analysis BCH/USD July 2, 2019
An additional signal in favor of falling BCH/USD quotes will be a test of the downward trend line on the relative strength index (RSI). The second signal in favor of lowering BCH/USD quotes will be a rebound from the upper limit of the downward channel. Cancellation of the option of a fall in the rate of cryptocurrency Bitcoin Cash will be a strong growth and a breakdown of the area of 445.05. This will indicate a breakdown of the upper boundary of the downward channel and the continued growth of the cryptocurrency rate with a potential target above the 505.00 area. With the breakdown of the support area and closing of quotes below the level of 375.00, we can expect an acceleration of the development of the downward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD July 2, 2019 involves an attempt to test the resistance area near the level of 420.00. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 335.00. An additional signal in favor of the fall of 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 the breakdown of the area of 445.05. This will indicate a continuation of the rise of cryptocurrencies with a potential target above the level of 505.00.
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