BCH/USD are trading at 216.25 and continue to move as part of the fall and the bearish channel. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $3 922 898 405. Moving averages indicate the presence of a short-term bearish trend in Bitcoin Cash. As part of the cryptocurrency rate forecast for October 17, 2019, one should expect an attempt to correct the asset value and test the resistance level near the area of 220.05. Where again we should expect a rebound and the continued fall of the digital asset Bitcoin Cash with a potential target below the level of 165.05.
Bitcoin Cash Forecast and Analysis BCH/USD October 17, 2019
An additional signal in favor of falling quotes of the digital asset BCH/USD will be 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 Neck line of the «Head and Shoulders» reversal pattern. Cancellation of the option to drop the Bitcoin Cash cryptocurrency rate on October 17, 2019 will be a strong growth and a breakdown of the area of 255.05. 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 305.05. 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 a downward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD October 17, 2019 implies an attempt to test the resistance area near the level of 220.05. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 165.05. An additional signal in favor of the fall of the digital asset Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of the area of 255.05. This will indicate a continued rise in the cryptocurrency with a potential target above the level of 305.05.
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