Bitcoin Cash BCH/USD are trading at 554 and continue to move in the ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $9 749 297 071. At the moment, we can expect an attempt to test the support level near the 520 area. Where again we should expect a rebound and continued growth of the Bitcoin Cash rate with a target above the level of 665.
Bitcoin Cash forecast & technical analysis November 7, 2018
In favor of the growth of BCH/USD quotes, a test of an uptrend trend line on the relative strength index (RSI), as well as a test of a broken downstream channel, will be made. Cancellation of the growth rate of the cryptocurrency exchange rate will be the fall and the breakdown of the 485 area, which will indicate the breakdown of the channel boundary and the continuation of the fall of the cryptocurrency exchange rate. With the breakdown of the resistance area and the closure of quotes above the level of 600, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash forecast & technical analysis November 7, 2018 implies an attempt to test the support area near the 520 level, from which we can expect a rebound and continued BCH/USD growth to an area above the 665 level, an additional signal in favor of the Bitcoin Cash growth will be a test of the trend line on the relative strength index (RSI), the cancellation of the growth option will be the fall and the breakdown of the 485 area, which will indicate a continued decline in cryptocurrency.