Bitcoin Cash ends the trading week at 420 and continues to move as part of the correction and the upward 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 365. Where does a rebound be 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 3 — 7, 2019
An additional signal in favor of raising the BCH/USD quotes on the current trading week on June 3 — 7, 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 bullish channel. Cancellation of the cryptocurrency growth option Bitcoin Cash will be a fall and a breakdown of the 285 area. This will indicate a breakdown of the lower boundary of the rising 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 495.
Bitcoin Cash Forecast and Analysis June 3 — 7, 2019 implies an attempt to test the support area near the level of 365. Then continued growth to the area above the level of 635. An additional signal in favor of the growth of Bitcoin Cash is the test of the trend line on the relative strength index (RSI). Cancellation of the option of the rise will be the fall and the breakdown of the area 285. This will indicate the continuation of the fall of the cryptocurrency with a goal below level 205.
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