Bitcoin Cash BCH/USD is traded at the level of 2701. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Bitcoin Cash. Ichimoku Kinko Hyo Cloud near the level 2550 is expected to be tested near the level of 2550, from which it is expected to attempt a rebound and continue growth with the target close to 2900. Earlier we received a weak signal for sell of Bitcoin Cash cryptocurrency, due to crossing of signal lines at 2550 level.
Bitcoin Cash forecast & analysis on January 14, 2018
The cancellation of the growth of BCH/USD quotations will be the breakdown of the lower boundary of the Indicator Cloud and the closing below the level of 2400, which will indicate a change in the bullish trend in favor of a bearish trend. To expect the resumption of the bullish trend for the cryptocurrency is with the breakdown of the resistance level and the closing above the level of 3100.
However, we should not exclude the attempt to form the reversal model «Head and Shoulders». In this case, with the breakdown of the level of 2100, we should expect the continuation of the decline with a potential target near the level of 1600 within the framework of the model’s development. Cancellation will perform a breakdown of the level of 3000.