Bitcoin Cash BCH/USD are trading at 385.78 and continue to move as part of the correction and the bullish channel. Cryptocurrency capitalization at the time of the publication of the forecast is $6 868 979 257. Moving averages indicate the presence of a short-term upward trend in Bitcoin Cash. As part of the cryptocurrency exchange rate forecast for June 7, 2019, we should expect an attempt to decrease and test the support level near the area of 350.00. Where can we again expect a rebound and continued growth of the digital asset Bitcoin Cash with a potential target above the level of 505.00.
Bitcoin Cash Forecast and Analysis BCH/USD June 7, 2019
An additional signal in favor of the growth of BCH/USD quotes will be the test of the support area on the relative strength index (RSI). The second signal in favor of raising the BCH/USD quotes will be a rebound from the lower boundary of the rising channel. The abolition of the option of the growth of the cryptocurrency rate Bitcoin Cash will be a strong fall and a breakdown of the 305.00 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the cryptocurrency rate with a potential target below the 265.00 area. With the breakdown of the resistance area and the closure of quotes above the level of 435.00, we can expect the acceleration of the development of the upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD June 7, 2019 imply an attempt to test the support area near the level of 350.00. Where can we expect a rebound and continued growth of BCH/USD in the region above the level of 505.00. An additional signal in favor of raising Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be the fall and the breakdown of the area of 305.00. This will indicate a continued decline in cryptocurrency with a potential target below the level of 265.00.
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