Bitcoin Cash ends the trading week at 405.88 and continues to move within the correction and the bullish channel. Moving averages indicate a bullish 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 365.00. From where again, a rebound is expected and an attempt to continue the growth of Bitcoin Cash with a potential target above the level of 635.00.
Bitcoin Cash Forecast and Analysis July 8 — 12, 2019
An additional signal in favor of raising the BCH/USD quotes on the current trading week July 8 — 12, 2019 will be the test of the support line 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 area of 280.00. 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 growth of cryptocurrency will be the breakdown of the resistance area and the closing of quotes above the level of 505.00.
Bitcoin Cash Forecast and Analysis July 8 — 12, 2019 implies an attempt to test the support area near the level of 365.00. Then continued growth in the region above the level of 635.00. 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 280.00. This will indicate the continuation of the fall of cryptocurrency with a target below the level of 215.00.
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