Bitcoin Cash closes the trading week at 271.95 and continues to move as part of the growth and downward channel. Moving averages indicate the presence of a bearish trend, which remains quite strong, as we see prices repel from the area between the signal lines. As part of the forecast for the BCH/USD rate for the next trading week, we should expect an attempt to reduce the value of the digital asset and test the support area near the level of 235.05. Where again, a rebound is expected and an attempt to continue the growth of Bitcoin Cash with a potential target above 415.05.
Bitcoin Cash Forecast and Analysis November 4 — 8, 2019
An additional signal in favor of the growth of BCH/USD quotes in the current trading week November 4 — 8, 2019 will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. The cancellation of the growth option for the Bitcoin Cash cryptocurrency will be a fall and a breakdown of the area of 185.05. This will indicate a breakdown of the support area and a continued decline in BCH/USD quotes. Confirmation of the growth of cryptocurrency will be a breakdown of the upper border of the downward channel and closing quotes above the level of 305.05.
Bitcoin Cash Forecast and Analysis November 4 — 8, 2019 implies an attempt to test the support area near the level of 235.05. Then, continued growth to the area above the level of 415.05. An additional signal in favor of raising Bitcoin Cash will be a test of the broken trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 185.05. This will indicate a continued decline in cryptocurrency with a target below the level of 135.05.
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