Bitcoin Cash ends the trading week at 221.70 and continues to move as part of the fall and the downward channel. Moving averages indicate a bearish trend, which remains strong, as we see prices once again were able to push from the area between the 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 downward correction of the value of the digital asset and a test of the support area near the level of 175.05. Where again, a rebound and an attempt to grow Bitcoin Cash is expected with a potential target above the level of 455.05.
Bitcoin Cash Forecast and Analysis December 2 — 6, 2019
An additional signal in favor of the growth of BCH/USD quotes in the current trading week December 2 — 6, 2019 will be an uptrend test on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the downward channel. Cancellation of the growth option for the Bitcoin Cash cryptocurrency will be a fall and a breakdown of the area of 125.05. This will indicate a breakdown of the support area and a continued decline in BCH/USD quotes. Confirmation of the growth of cryptocurrency will be a breakdown of the upper border of the downward channel and closing quotes above the level of 335.05.
Bitcoin Cash Forecast and Analysis December 2 — 6, 2019 implies an attempt to test the support area near the level of 175.05. Then, continued growth to the area above the level of 455.05. 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 125.05 area. This will indicate a continued decline in cryptocurrency with a target below the level of 85.05.