Bitcoin Cash ends the trading week at 357.49 and continues to move as part of strong growth and an upward channel. Moving averages indicate a bearish trend. However, prices have broken the signal line area up, which indicates strong pressure from buyers. As part of the forecast for the BCH/USD rate for the next trading week, we should expect an attempt to drop the value of the digital asset and test the support area near the level of 265.05. Where again, a rebound is expected and an attempt to grow Bitcoin Cash with a potential target above the level of 585.05.
Bitcoin Cash Forecast and Analysis January 20 — 24, 2020
An additional signal in favor of the growth of BCH/USD quotes in the current trading week January 20 — 24, 2020 will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the upper 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 170.05. 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 455.05.
Bitcoin Cash Forecast and Analysis January 20 — 24, 2020 implies an attempt to test the support area near the level of 265.05. Then continued growth to the area above the level of 585.05. 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 area of 170.05. This will indicate a continued decline in cryptocurrency with a target below the level of 75.05.
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