Bitcoin Cash BCH/USD is trading at the level of 1232. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Bitcoin Cash. The Ichimoku Kinko Hyo cloud is expected to test near the 1300 level, from which it is expected to attempt a rebound and continue falling with a target below 950.
An additional signal in favor of the drop of the cryptocurrency will be a resistance level test. Earlier, a weak signal was received for sell of the Bitcoin Cash cryptocurrency, due to the crossing of signal lines at the level of 1450.
Bitcoin Cash forecast & analysis on February 27, 2018
The cancellation of the variant of the BCH/USD quotation drop will be the breakdown of the upper boundary of the indicator Cloud and the closing above the level of 1450, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations BCH/USD stands with the breakdown of the support area and closings below the level of 1150. In favor of the drop in quotations of the Bitcoin Cash cryptocurrency, the formation of the bearish model of «Wolfe Wave» also appears.
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