BCH/USD are trading at 536.59 and continue to move within the growth and the downward channel. The capitalization of the Bitcoin Cash cryptocurrency at the time of the publication of the forecast is $10,224,001,563. Moving averages indicate a short-term bearish trend for Bitcoin Cash. However, prices have broken through the area between the signal lines upward, which indicates pressure from buyers of the asset and a potential continuation of the rise from the current levels. As part of the cryptocurrency rate forecast for March 4, 2021, we should expect an attempt to develop a correction in the value of the asset and a test of the support level near the 475.70 area. Where can we expect a rebound again and continued growth in the rate of the Bitcoin Cash digital asset with a potential target above the level of 725.05.
Bitcoin Cash Forecast and Analysis BCH/USD March 4, 2021
An additional signal in favor of the growth of quotations of the digital asset BCH/USD is a test of the trend line on the relative strength index (RSI). The second signal in favor of raising the BCH/USD quotes will be the completion of the formation of the “Double Bottom” reversal pattern. Cancellation of the growth option for the Bitcoin Cash cryptocurrency on March 4, 2021 will be a fall and a breakdown of the 415.05 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the 365.55 area. With the breakdown of the resistance area and closing of quotations above the level of 595.05, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD March 4, 2021 suggests an attempt to test the support area near the 475.70 level. Where can we expect a rebound and continued growth in BCH/USD to the area above the level of 725.05. An additional signal in favor of a rise in the Bitcoin Cash digital asset 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 415.05 area. This will indicate a continued decline in cryptocurrency with a potential target below the level of 365.55.
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