Bitcoin Cash ends the trading week at the level of 394 and continues to move within the correction and the ascending channel. Moving averages indicate a bearish trend, which is already coming to an end. As part of the BCH/USD exchange rate forecast for the next trading week, we expect an attempt at a correction and a test of the support area near the level of 345. Where is the rebound expected again and an attempt to continue to grow Bitcoin Cash with a potential target above the level of 635.
Bitcoin Cash Forecast and Analysis June 10 — 14, 2019
An additional signal in favor of raising the BCH/USD quotes on the current trading week of June 10 — 14, 2019 will be the test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the cryptocurrency growth option Bitcoin Cash will be a fall and a breakdown of the 265 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 growth of cryptocurrency will be the breakdown of the resistance area and the closure of quotes above the level of 485.
Bitcoin Cash Forecast and Analysis June 10 — 14, 2019 implies an attempt to test the support area near level 345. Then, continued growth to the area above 635. An additional signal in favor of Bitcoin Cash growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the rise option will be the fall and the breakdown of the area of 265. This will indicate the continuation of the fall of the cryptocurrency with the goal below the level of 195.