Bitcoin Cash ends the trading week at 298 and continues to move in the ascending channel. Moving averages indicate a downward trend. Quotes are testing an important resistance area. A breakout of level 395 will indicate continued growth of cryptocurrency. As part of the BCH/USD rate forecast for the week, we can expect an attempt to decline and a test of the support area near the level of 235. Where again we should expect a rebound and an attempt to continue to grow with Bitcoin Cash with a target above 585.
Bitcoin Cash Forecast and April 22 — 26, 2019
An additional signal in favor of the growth of BCH/USD quotes on the current trading week of April 22 — 26, 2019 will be the support line test on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the cryptocurrency growth option Bitcoin Cash will be a fall and a breakdown of the area of 175. This will indicate a breakdown of the support area and the continuation of the fall of BCH/USD. Confirmation of the growth of cryptocurrency will break the upper boundary of the channel and closing quotes above 395. That would indicate a strong signal in favor of purchases.
Bitcoin Cash Forecast and April 22 — 26, 2019 implies an attempt to test the support area near level 235. Then continued growth to the area above level 585. An additional signal in favor of raising Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be the fall and the breakdown of the area 175. This will indicate a continued decline in cryptocurrency with a goal below level 95.
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