Bitcoin Cash ends the trading week at 210.37 and continues to move as part of the decline and the bearish channel. Moving averages indicate a bearish trend, which remains strong. As you can see, prices will stay below the level of signal lines, which indicates pressure from sellers. As part of the forecast for the BCH/USD rate for the next trading week, we should expect an attempt to continue to fall in the value of the digital asset and test the support area near the level of 155.05. Where again, a rebound and an attempt to grow Bitcoin Cash with a potential target above the level of 345.05 are expected.
Bitcoin Cash Forecast and Analysis December 16 — 20, 2019
An additional signal in favor of the growth of BCH/USD quotes in the current trading week December 16 — 20, 2019 will be a test of the ascending trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish «Wolfe Wave» model. Cancellation of the Bitcoin Cash cryptocurrency growth option will be a fall and a breakdown of the 105.05 area. This will indicate a breakdown of the support area and a continued decline in BCH/USD quotes. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 255.05.
Bitcoin Cash Forecast and Analysis December 16 — 20, 2019 implies an attempt to test the support area near the level of 155.05. Then, continued growth to the area above the level of 345.05. An additional signal in favor of raising Bitcoin Cash will be a test of the broken trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 105.05 area. This will indicate a continued decline in cryptocurrency with a target below the level of 75.05.
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