Bitcoin Cash ends the trading week at 357 and continues to move through strong growth and a rising channel. Moving averages indicate a downward trend. As part of the BCH/USD exchange rate forecast for the next trading week, we can expect an attempt to reduce and test the support area near the 295 level. Where is the rebound expected again and the attempt to continue to grow Bitcoin Cash with a potential target above 655 level.
Bitcoin Cash Forecast and Analysis May 20 — 24, 2019
An additional signal in favor of raising the BCH/USD quotes on the current trading week of May 20 — 24, 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 growth option Bitcoin Cash cryptocurrency will fall and the breakdown of the area 220. This will indicate a breakdown of the lower boundary of the rising channel and the continuation of the fall of 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 495.
Bitcoin Cash Forecast and Analysis May 20 — 24, 2019 implies an attempt to test the support area near the level of 295. Then continued growth to the area above 655. An additional signal in favor of the growth of Bitcoin Cash will be a 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 220. This will indicate the continuation of the fall of the cryptocurrency with a goal below level 155.
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