Bitcoin Cash ends the trading week at 259 and continues to move in the ascending channel. Moving averages indicate a downward trend. As part of the BCH/USD exchange rate forecast for the week, we can expect an attempt to grow and test the resistance area near the level of 315. Where again we should expect a rebound and an attempt to continue falling on Bitcoin Cash with a target below 185.
Bitcoin Cash Forecast and April 29 — May 3, 2019
An additional signal in favor of falling BCH/USD quotes on the current trading week of April 29 — May 3, 2019 will be the test of the broken resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the option of falling cryptocurrency Bitcoin Cash will be a strong growth and a breakdown of the area of 335. This will indicate a breakdown of the resistance area and continued growth of BCH/USD. Confirmation of the fall of the cryptocurrency will be a breakdown of the support area and the closure of quotes below 235.
Bitcoin Cash Forecast and April 29 — May 3, 2019 implies an attempt to test the resistance area near the level of 315. Then the continuation of falling to the area below the level of 185. An additional signal in favor of reducing Bitcoin Cash will be a trend line test on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the area of 335. This will indicate that the cryptocurrency will continue to rise with a target below the level of 395.
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