Bitcoin Cash completes the trading week at 287.92 and continues to move as part of the correction and the beginning of the “Triangle” pattern. Moving averages indicate a bullish trend. Prices have broken the area between the signal lines upwards, which indicates pressure from buyers of the coin and potential continued growth. As part of the BCH/USD rate forecast for the next trading week, we should expect an attempt to fall in the value of a digital asset and a test of the support area near the level of 245.05. From where again a rebound is expected and an attempt to grow Bitcoin Cash with a potential target above the level of 505.05.
Bitcoin Cash Forecast and Analysis December 7 — 11, 2020
An additional signal in favor of raising the BCH/USD quotes in the current trading week of December 7 — 11, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound on the upper border of the “Triangle” model. Cancellation of the growth option for the Bitcoin Cash cryptocurrency in the next trading week will be a decline and a breakdown of the 185.05 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below the level of 125.05. Confirmation of the rise in cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 395.05, which will indicate a breakdown of the upper border of the ascending channel.
Bitcoin Cash Forecast and Analysis December 7 — 11, 2020 suggests an attempt to test the support area near 245.05. Then continued growth to the area above the level of 505.05. An additional signal in favor of a rise in 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 185.05 area. This will indicate a continued decline in cryptocurrency with a target below 125.05.
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