Bitcoin Cash ends the trading week at 118.18, continues to move as part of growth and has left the descending channel. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines, which indicates pressure from the sellers of the coin and a potential continuation of the fall. As part of the BCH/USD rate forecast for the next trading week, we should expect an attempt to continue the downward correction in the value of the digital asset and test the support area near the level of 100.05. From where a rebound is expected again and an attempt to continue the growth of the Bitcoin Cash cryptocurrency with a potential target above the level of 205.05.
Bitcoin Cash Forecast January 16 — 20, 2023
An additional signal in favor of the growth of BCH/USD quotes in the current trading January 16 — 20, 2023 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel, which was broken up by buyers. Cancellation of the Bitcoin Cash cryptocurrency growth option in the next trading week will be a fall and a breakdown of the 85.05 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below 35.05. The growth of the cryptocurrency will be confirmed by the breakdown of the resistance area and the closing of quotes above the level of 145.05.
Bitcoin Cash Forecast January 16 — 20, 2023 suggests an attempt to test the support area near the level of 100.05. Then continued growth to the area above the level of 205.05. An additional signal in favor of the rise of Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 85.05. This will indicate a continued decline in the cryptocurrency with a target below the level of 35.05.
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