Bitcoin Cash BCH/USD are trading at 384.78 and continue to move as part of the correction and the formation of the «Triangle» pattern. Cryptocurrency capitalization at the time of the publication of the forecast is $6 852 969 017. Moving averages indicate the presence of a short-term upward trend in Bitcoin Cash. As part of the cryptocurrency exchange rate forecast for May 24, 2019, we should expect an attempt to decrease and test the support level near the area of 370.00. Where can we again expect a rebound and continued growth of the digital asset Bitcoin Cash with a potential target above the level of 475.00.
Bitcoin Cash Forecast and Analysis BCH/USD May 24, 2019
An additional signal in favor of the growth of BCH/USD quotes will be a test of the rising trend line on the relative strength index (RSI). The second signal in favor of raising the BCH/USD quotes will be a rebound from the lower border of the «Triangle» model. Cancellation option for the growth of the cryptocurrency rate Bitcoin Cash will be a decline and a breakdown of the 335.00 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the cryptocurrency rate with a potential target below the 285.00 area. With the breakdown of the resistance area and the closure of quotes above the level of 445.00, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD May 24, 2019 implies an attempt to test the support area near the level of 370.00. Where can we expect a rebound and continued growth of BCH/USD in the region above the level of 475.00. An additional signal in favor of raising Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of growth options will fall and the breakdown of the area of 335.00. This will indicate a continued decline in cryptocurrency with a potential target below the level of 285.00.
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