Bitcoin Cash ends the trading week at 233.22 and continues to move within the correction and the downward channel. 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 rate forecast for the next trading week, we should expect an attempt to raise the value of a digital asset and a test of the resistance area near the level of 235.95. From where a rebound is expected again and an attempt to fall Bitcoin Cash with a potential target below the level of 125.05.
Bitcoin Cash Forecast and Analysis July 27 — 31, 2020
An additional signal in favor of a decrease in BCH/USD quotes in the current trading week July 27 — 31, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the resistance level. 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 375.00. Confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 180.05.
Bitcoin Cash Forecast and Analysis July 27 — 31, 2020 implies an attempt to test the resistance area near the 235.95 level. Then the continuation of the fall to the area below the level of 125.05. 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 375.00.
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