Bitcoin Cash BCH/USD is completing the trading week near the area of 669. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin Cash. In the current trading week, the Ichimoku Kinko Hyo signal line area is expected to test near 850, from which it is expected to attempt a rebound and continue the development of the bearish trend with a target below the level of 350.
Bitcoin Cash (BCH/USD) forecast April 2 — 6, 2018
An additional signal in favor of the fall of the cryptocurrency will be the test of the upper boundary of the bearish channel. Earlier, a strong signal was received for sell of the Bitcoin Cash cryptocurrency, by crossing the signal lines at 1200 level.
The cancellation of the variant of the BCH/USD quotations fall will be the breakdown of the upper boundary of the indicator Cloud and the closing above the level of 1250, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of falling quotations is with the breakdown of the level of support and closing below the level of 550.
However, we should not exclude the attempt to form a bullish model of «Wolfe Wave». The goal of working out this model is the area above the level of 2200. In this case, after the test of area 300, quotes BCH/USD can show the growth and completion of the bearish trend.