Bitcoin Cash completes the trading week at 254.87 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 buyers of the coin and 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 220.55. From where a rebound is expected again and an attempt to grow Bitcoin Cash with a potential target above 425.55.
Bitcoin Cash Forecast and Analysis November 9 — 13, 2020
An additional signal in favor of raising the BCH/USD quotes in the current trading week on November 9 — 13, 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 165.05 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below 105.05. Confirmation of the rise in the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 305.05, which will indicate a breakdown of the upper border of the “Triangle” model.
Bitcoin Cash Forecast and Analysis November 9 — 13, 2020 suggests an attempt to test the support area near 220.55. Then continued growth to the area above the level of 425.55. 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 165.05 area. This will indicate a continued decline in cryptocurrency with a target below 105.05.
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