Bitcoin Cash completes the trading week at 236.72 and continues to move as part of the correction and the formation of the “Triangle” pattern. Moving averages indicate a bearish trend. Prices are testing the area between the signal lines, which indicates pressure from the sellers of the coin and a potential continuation of the fall. As part of the BCH/USD rate forecast for the next trading week, we should expect an attempt to reduce the value of a digital asset and a test of the support area near the level of 205.05. From where a rebound is expected again and an attempt to grow the Bitcoin Cash cryptocurrency with a potential target above the level of 405.05.
Bitcoin Cash Forecast and Analysis October 12 — 16, 2020
An additional signal in favor of raising the BCH/USD quotes in the current trading week on October 12 — 16, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the “Triangle” pattern. Cancellation of the growth option for Bitcoin Cash cryptocurrency in the next trading week will be a fall and a breakdown of the 155.05 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 cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 325.05, which will indicate a breakdown of the upper border of the “Triangle” model.
Bitcoin Cash Forecast and Analysis October 12 — 16, 2020 suggests an attempt to test the support area near 205.05. Then continued growth to the area above the level of 405.05. An additional signal in favor of a 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 155.05 area. This will indicate a continued decline in cryptocurrency with a target below 105.05.
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