Bitcoin Cash BCH/USD are trading at 411.68 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $7 387 012 460. Moving averages indicate the presence of a short-term bullish trend on Bitcoin Cash. As part of the cryptocurrency exchange rate forecast for July 9, 2019, we should expect an attempt to continue the decline and a test of the support level near the 400.05 area. Where can we again expect a rebound and continued growth of the digital asset Bitcoin Cash with a potential target above the level of 530.55.
Bitcoin Cash Forecast and Analysis BCH/USD July 9, 2019
An additional signal in favor of raising the BCH/USD quotes will be the upward support line test on the relative strength indicator. The second signal in favor of the growth of BCH/USD quotes will be a rebound from the lower limit of the «Triangle» model. Cancellation of the option of growth of the cryptocurrency rate Bitcoin Cash will fall and the breakdown of the area of 360.00. This will indicate a breakdown of the lower limit of the downward model and the continuation of the fall of the cryptocurrency rate with a potential target below the 310.00 area. With the breakdown of the resistance area and the closure of quotes above the level of 435.00, we can expect the acceleration of the development of the upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD July 9, 2019 implies an attempt to test the support area near the level of 400.05. Where can we expect a rebound and continued growth of BCH/USD in the region above the level of 530.55. An additional signal in favor of raising Bitcoin Cash will be a test of the trend line on the relative strength indicator. Cancellation of the growth option will be the fall and the breakdown of the area of 360.00. This will indicate a continued decline in cryptocurrency with a potential target below 310.00.