Bitcoin Cash ends the trading week at 311.72 and continues to move through the decline and the upward channel. Moving averages indicate a flat trend. As part of the BCH/USD exchange rate forecast for the next trading week, we can expect an attempt at a correction and a test of the support area near the level of 205.00. From where again, a rebound is expected and an attempt to continue to grow Bitcoin Cash with a potential target above the level of 525.00.
Bitcoin Cash Forecast and Analysis July 29 — August 2, 2019
An additional signal in favor of the growth of BCH/USD quotes on the current trading week of July 29 — August 2, 2019 will be a test of the support area on the relative strength indicator. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the growth option Bitcoin Cash cryptocurrency will fall and the breakdown of the 175.00 area. This will indicate a breakdown of the lower boundary of the ascending channel and the continuation of the fall in BCH/USD quotes. Confirmation of the rise of the cryptocurrency will be a breakdown of the downward trend line on the RSI indicator and closing of quotations above the level of 365.00.
Bitcoin Cash Forecast and Analysis July 29 — August 2, 2019 implies an attempt to test the support area near the level of 205.00. Then continued growth in the area above the level of 525.00. An additional signal in favor of the growth of Bitcoin Cash will be the test of the trend line on the relative strength indicator. Cancellation option lift will fall and the breakdown of the area 175.00. This will indicate a continued decline in cryptocurrency with a target below the level of 105.00.
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