BCH/USD are trading at 286.83 and continue to move as part of the correction and the formation of the inverted «Head and Shoulders» model. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $5 205 051 833. Moving averages indicate the presence of a short-term bullish trend in Bitcoin Cash, prices are above the level of signal lines, which indicates pressure from the bulls. As part of the cryptocurrency rate forecast for November 12, 2019, one should expect an attempt to correct the value of the asset and test the support level near the area of 260.05. Where again we should expect a rebound and continued growth of the digital asset Bitcoin Cash with a potential target above the level of 345.05.
Bitcoin Cash Forecast and Analysis BCH/USD November 12, 2019
An additional signal in favor of raising the quotes of the digital asset BCH/USD will be a test of the upward trend line on the relative strength index (RSI). The second signal in favor of the growth of BCH/USD quotes will be a rebound from the lower border of the rising channel. Cancellation of the growth option for the Bitcoin Cash cryptocurrency rate on November 12, 2019 will be a fall and a breakdown of the area of 235.05. This will indicate a breakdown of the support area and a continued decline in the cryptocurrency rate with a potential target below the area of 200.05. With the breakdown of the resistance area and closing of quotations above the level of 320.05, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD November 12, 2019 implies an attempt to test the support area near the level of 260.05. Where can we expect a rebound and continued growth of BCH/USD to the area above the level of 345.05. An additional signal in favor of raising the digital asset Bitcoin Cash 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 area of 235.05. This will indicate a continued fall in cryptocurrency with a potential target below the level of 200.05.
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