Bitcoin Cash BCH/USD are trading at 307.34 and continue to move as part of the decline and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $5 528 525 732. Moving averages indicate the presence of a short-term downward trend in Bitcoin Cash. As part of the cryptocurrency exchange rate forecast for July 30, 2019, we should expect an attempt to continue growth and test the resistance level near the 315.00 area. Where can we expect a rebound again and the continuation of the fall of Bitcoin Cash digital asset with a potential target below 215.00.
Bitcoin Cash Forecast and Analysis BCH/USD July 30, 2019
An additional signal in favor of a fall in BCH/USD quotes will be the test of the downward resistance 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 355.00. This will indicate a breakdown of the resistance area and the continuation of the growth of the cryptocurrency rate with a potential target above the 400.00 area. With the breakdown of the area of support and closing of quotes below the level of 255.00, we can expect an acceleration of the development of the downward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD July 30, 2019 involves an attempt to test the resistance area near the level of 315.00. Where can we expect a rebound and the continuation of the fall of BCH/USD in the region below the level of 215.00. An additional signal in favor of reducing Bitcoin Cash is a test of the trend line on the relative strength indicator. Cancellation of the fall option will be a strong growth and the breakdown of the area of 355.00. This will indicate a continuation of the rise of cryptocurrencies with a potential target above the level of 400.00.
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