Bitcoin Cash completes the trading week at 253.54 and continues to move as part of the correction and the formation of the “Triangle” pattern. Moving averages indicate a bearish trend. However, prices have broken the area between the signal lines upwards, which indicates pressure from the coin’s buyers and a potential continued growth. As part of the BCH/USD rate forecast for the next trading week, we should expect an attempt to fall in the value of a digital asset and a test of the support area near the level of 230.55. From where a rebound is expected again and an attempt to grow Bitcoin Cash with a potential target above the level of 425.05.
Bitcoin Cash Forecast and Analysis November 23 — 27, 2020
An additional signal in favor of raising the BCH/USD quotes in the current trading week on November 23 — 27, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound on the lower border of the “Triangle” model. Cancellation of the growth option for the Bitcoin Cash cryptocurrency in the next trading week will be a decline and a breakdown of the 175.05 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below 115.05. The confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 305.05, which will indicate a breakdown of the upper border of the “Triangle” model and the beginning of this pattern.
Bitcoin Cash Forecast and Analysis November 23 — 27, 2020 suggests an attempt to test the support area near 230.55. Then continued growth to the area above the level of 425.05. An additional signal in favor of the rise in Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 175.05 area. This will indicate a continued decline in cryptocurrency with a target below 115.05.
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