Bitcoin Cash ends the trading week at 221.67 and continues to move as part of the fall and the beginning of the development of the «Triangle» model. Moving averages indicate a bearish trend. Prices pushed down from the area between the signal lines, indicating pressure from coin sellers and a potential continuation of the fall. As part of the forecast for the BCH/USD rate for the next trading week, we should expect an attempt to raise the value of the digital asset and test the resistance area near the level of 245.65. Where again, a rebound is expected and an attempt to drop Bitcoin Cash with a potential target below the level of 135.05.
Bitcoin Cash Forecast and Analysis July 6 — 10, 2020
An additional signal in favor of reducing BCH/USD quotes in the current trading week from July 6 to 10, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the option of falling Bitcoin Cash cryptocurrency in the next trading week will be a strong growth and a breakdown of the area of 305.05. This will indicate a breakdown of the resistance area and continued growth of BCH/USD quotes from the target above the level of 405.00. A confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotes below the level of 200.55.
Bitcoin Cash Forecast and Analysis July 6 — 10, 2020 implies an attempt to test the resistance area near the level of 245.65. Then, the continuation of the fall to the area below the level of 135.05. 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 area of 305.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 405.00.
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