Bitcoin Cash BCH/USD are trading at 244 and continue to move as part of the decline and start to work out the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $4 458 693 105. Moving averages indicate a downward trend in Bitcoin Cash. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of 260. Where again we should expect a rebound and the continuation of the fall of the Bitcoin Cash rate with the target below 155.
Bitcoin Cash Forecast and Analysis BCH/USD May 1, 2019
In favor of reducing the BCH/USD quotes, a test of the downward trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower boundary of the model «Triangle». Cancellation of the option of falling Bitcoin Cash will be a strong growth and a breakdown of the 295 area. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a target above the area 340. With the breakdown of the support area and the closing of quotes below 215, we should expect confirmation of the development of a downward trend on Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD May 1, 2019 implies an attempt to test the resistance area near the 260 level. Where should we expect a rebound and the continuation of BCH/USD falling into the area below the 155. The additional signal in favor of Bitcoin Cash reduction will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the region 295. This will indicate a continuation of the rise of cryptocurrency with a potential goal above the level of 340.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
