Bitcoin Cash BCH/USD are trading at 266 and continue to move as part of the upward correction and the channel. Cryptocurrency capitalization at the time of the publication of the forecast is $4 745 536 495. Moving averages indicate a short-term downward trend in Bitcoin Cash. As part of the cryptocurrency exchange rate forecast, we should expect an attempt to grow and test the resistance level near the area of 280. Where again we should expect a rebound and the continuation of the fall of the Bitcoin Cash rate with a potential target below the level of 225.
Bitcoin Cash Forecast and Analysis BCH/USD May 2, 2019
In favor of lowering BCH/USD quotes, a test of the trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the upper boundary of the downward channel. 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 upper boundary of the channel and continued growth of the cryptocurrency rate with a target above the area of 335. With the breakdown of the support area and closing of quotes below 235, we should expect confirmation of the development of the downward trend on Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD May 2, 2019 suggests an attempt to test the resistance area near the level of 280. Where should we expect a rebound and the continuation of BCH/USD falling to below 225. An additional signal in favor of reducing Bitcoin Cash 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 area 295. This will indicate a continuation of the rise of cryptocurrency with a potential goal above the level of 335.
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