Bitcoin Cash completes the trading week at 222.11 and continues to move as part of the fall and the formation of another «Triangle» pattern. Moving averages indicate a bearish trend. Prices are testing the area between the signal lines, which indicates pressure from the coin’s sellers and a potential continuation of the fall. As part of the BCH/USD forecast for the next trading week, we should expect an attempt to raise the value of a digital asset and test the resistance area near the level of 230.55. From where a rebound is expected again and an attempt to drop Bitcoin Cash with a potential target below 105.05.
Bitcoin Cash Forecast and Analysis July 20 — 24, 2020
An additional signal in favor of a decline in BCH/USD quotes in the current trading week July 20 — 24, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the «Triangle» pattern. Cancellation of the option of falling Bitcoin Cash cryptocurrency in the next trading week will be strong growth and a breakdown of the 305.05 area. This will indicate a breakdown of the resistance area and continued growth of BCH/USD quotes with a target above the level of 405.00. Confirmation of the fall of the cryptocurrency will be the breakdown of the support area and the closing of quotations below the level of 200.55, which will indicate a breakdown of the lower border of the «Triangle» model.
Bitcoin Cash Forecast and Analysis July 20 — 24, 2020 suggests an attempt to test the resistance area near 230.55. Then, the continuation of the fall to the area below the level of 105.05. An additional signal in favor of reducing Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 305.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 405.00.
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