BCH/USD are trading at 236.10 and continue to move as part of the correction and the formation of the «Triangle» model. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $4 369 940 349. Moving averages indicate the presence of a short-term bullish trend in Bitcoin Cash. Prices pierced the area between the signal lines up, which indicates pressure from the buyers of the asset. As part of the cryptocurrency forecast for May 22, 2020, one should expect an attempt to develop the growth of the asset value and test the resistance level near the area of 265.05. Where again we should expect a rebound and continued decline in the Bitcoin Cash digital asset with a potential target below the level of 145.05.
Bitcoin Cash Forecast and Analysis BCH/USD May 22, 2020
An additional signal in favor of falling quotes 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 lowering the BCH/USD quotes will be a rebound from the upper boundary of the «Triangle» model. Cancellation of the option to drop the Bitcoin Cash cryptocurrency rate on May 22, 2020 will be a strong growth and a breakdown of the area of 285.05. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the 325.05 area. With the breakdown of the support area and closing of quotes below the level of 205.05, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD May 22, 2020 implies an attempt to test the resistance area near the level of 265.05. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 145.05. 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 fall option will be a strong growth and a breakdown of the area of 285.05. This will indicate a continued rise in cryptocurrency with a potential target above 325.05.
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