Bitcoin Cash ends the trading week at 235.27 and continues to move within the correction and the downward channel. Moving averages indicate a bearish trend. However, prices have broken down the area between the signal lines, which indicates pressure from the coin’s sellers 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 the digital asset and test the support area near the level of 200.55. From where a rebound is expected again and an attempt to grow the Bitcoin Cash cryptocurrency with a potential target above the level of 365.05.
Bitcoin Cash Forecast and Analysis September 21 — 25, 2020
An additional signal in favor of raising the BCH/USD quotes in the current trading week of September 21 — 25, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a breakdown of the lower border of the descending channel. 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 105.55. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 315.05.
Bitcoin Cash Forecast and Analysis September 21 — 25, 2020 suggests an attempt to test the support area near 200.55. Then continued growth to the area above the level of 365.05. 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 155.05 area. This will indicate a continued decline in cryptocurrency with a target below 105.55.
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