BCH/USD are trading at 325.25 and continue to move as part of the correction and the downward channel. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $6 146 050 467. Moving averages indicate the presence of a short-term bearish trend in Bitcoin Cash. Prices have gone far from the area between the signal lines, indicating pressure from sellers. As part of the cryptocurrency rate forecast for March 4, 2020, we should expect an attempt to develop a decrease in the value of the asset and a test of the support level near the area of 305.05. Where again we should expect a rebound and continued growth of the digital asset Bitcoin Cash with a potential target above the level of 425.05.
Bitcoin Cash Forecast and Analysis BCH/USD March 4, 2020
An additional signal in favor of raising the quotes of the digital asset BCH/USD is the test of the support area on the relative strength index (RSI). The second signal in favor of the growth of BCH/USD quotes will be a rebound from the support area. Cancellation of the option to grow the Bitcoin Cash cryptocurrency rate on March 4, 2020 will be a fall and a breakdown of the area of 275.05. This will indicate a breakdown of the support area and a continued decline in the cryptocurrency rate with a potential target below the area of 215.05. With the breakdown of the upper border of the downward channel and the closing of quotations above the level of 365.05, we should expect confirmation of the development of the bullish trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD March 4, 2020 implies an attempt to test the support area near the level of 305.05. Where can we expect a rebound and continued growth of BCH/USD to the area above the level of 425.05. An additional signal in favor of reducing the digital asset of Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 275.05. This will indicate a continued decline in cryptocurrency with a potential target below the level of 215.05.
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