Bitcoin Cash ends the trading week at 251.58 and continues to move as part of the correction and the bearish channel. Moving averages indicate a bearish trend. Prices are testing the area between the signal lines, indicating pressure from coin sellers and the 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 285.05. Where again, a rebound is expected and an attempt to drop Bitcoin Cash with a potential target below the level of 107.65.
Bitcoin Cash Forecast and Analysis May 11 — 15, 2020
An additional signal in favor of lowering BCH/USD quotes in the current trading week May 11 — 15, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the resistance level. 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 345.05. This will indicate a breakdown of the resistance area and continued growth of BCH/USD quotes from the target above the level of 505.00. A confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 205.00.
Bitcoin Cash Forecast and Analysis May 11 — 15, 2020 implies an attempt to test the resistance area near the level of 285.05. Then, the continuation of the fall to the area below the level of 107.65. 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 345.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 505.00.
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