Bitcoin Cash completes the trading week at 268.80 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 increase the value of a digital asset and a test of the resistance area near the level of 295.05. From where a rebound is expected again and an attempt to drop the Bitcoin Cash cryptocurrency with a potential target below 135.05.
Bitcoin Cash Forecast and Analysis October 26 — 30, 2020
An additional signal in favor of reducing the BCH/USD quotes in the current trading week on October 26 — 30, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound on the upper border of the “Triangle” model. Cancellation of the option of falling Bitcoin Cash cryptocurrency in the next trading week will be strong growth and a breakdown of the 325.55 area. This will indicate a breakdown of the resistance area and continued growth of BCH/USD quotes with a target above the level of 425.05. Confirmation of the fall of the cryptocurrency will be the breakdown of the support area and the closing of quotations below the level of 200.55, which will indicate a breakdown of the lower border of the “Triangle” model.
Bitcoin Cash Forecast and Analysis October 26 — 30, 2020 suggests an attempt to test the resistance area near the 295.05 level. Then, the continuation of the fall to the area below the level of 135.05. An additional signal in favor of reducing Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 325.55 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 425.05.
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