BCH/USD are trading at 242.68 and continue to move as part of the correction and the downward channel. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $4 431 816 733. Moving averages indicate the presence of a short-term bearish trend in Bitcoin Cash. Prices fell far from the signal lines, indicating pressure from the bears. As part of the cryptocurrency rate forecast for November 20, 2019, one should expect an attempt to correct the value of the asset and test the support level near the area of 255.05. Where again we should expect a rebound and continued decline in the Bitcoin Cash digital asset with a potential target below the level of 215.05.
Bitcoin Cash Forecast and Analysis BCH/USD November 20, 2019
An additional signal in favor of reducing the quotes of the digital asset BCH/USD is a test of a downward trend line on the relative strength index (RSI). The second signal in favor of falling BCH/USD quotes will be a rebound from the upper border of the downward channel. Cancellation of the option to drop the Bitcoin Cash cryptocurrency rate on November 19, 2019 will be a strong growth and a breakdown of the area of 280.05. This will indicate a breakdown of the upper boundary of the downward channel and continued growth of the cryptocurrency rate with a potential target above the area of 310.05. With the breakdown of the support area and closing of quotes below the level of 225.05, we should expect confirmation of the development of a downward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD November 20, 2019 implies an attempt to test the resistance area near the level of 255.05. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 215.05. 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 280.05. This will indicate a continued rise in the cryptocurrency with a potential target above the level of 310.05.
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