Bitcoin Cash BCH/USD are traded at 627 and continue to move in the ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $10 997 860 747. At the moment, we can expect an attempt to test the support level near the 580 area. Where can we again expect a rebound and continued growth of the Bitcoin Cash rate with the goal above 675.
Bitcoin Cash forecast & technical analysis November 8, 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 breakdown of the 560 region, 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 655, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash forecast & technical analysis November 8, 2018 implies an attempt to test the support area near the level of 580, from which we can expect a rebound and continued growth of BCH/USD to the area above the level of 675, a test in trend index (RSI) on the indicator will be an additional signal in favor of Bitcoin Cash relative strength, the cancellation of the growth option will be the fall and the breakdown of the 560 region, which will indicate a continued decline in cryptocurrency.
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