Bitcoin Cash ends the trading week at 304.45 and continues to move as part of the correction after a strong growth of the coin. Moving averages indicate a bearish trend. However, prices broke through the area of signal lines upwards, indicating strong pressure from the bulls. As part of the forecast for the BCH/USD rate for the next trading week, we should expect an attempt to reduce the value of the digital asset and test the support area near the level of 255.05. Where again, a rebound is expected and an attempt to grow Bitcoin Cash with a potential target above the level of 575.05.
Bitcoin Cash Forecast and Analysis January 27 — 31, 2020
An additional signal in favor of the growth of BCH/USD quotes in the current trading week of January 27 — 31, 2020 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option for the Bitcoin Cash cryptocurrency will be a fall and a breakdown of the area of 165.05. 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 435.05.
Bitcoin Cash Forecast and Analysis January 27 — 31, 2020 implies an attempt to test the support area near the level of 255.05. Then, continued growth to the area above the level of 575.05. 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 165.05. This will indicate a continued decline in cryptocurrency with a target below the level of 75.05.
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