Bitcoin Cash BCH/USD are trading at 588 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $10 347 951 190. At the moment, we can expect an attempt to test the resistance level near the 620 area.
Bitcoin Cash forecast & technical analysis November 9, 2018
In favor of lowering BCH/USD quotes, the test will be a downward trend line on the relative strength index (RSI). As well as the formation of the head and shoulders reversal pattern. Cancellation of the option of reducing the rate of cryptocurrency will be a strong growth and the breakdown of the area of 640. This will indicate the breakdown of the area of resistance and the continued growth of the rate of cryptocurrency. With the breakdown of the area of support and the closure of quotes below 555, we should expect confirmation of the development of the downward trend in Bitcoin Cash.
Bitcoin Cash forecast & technical analysis November 9, 2018 suggests an attempt to test the resistance area near the level of 620. Where should we expect a rebound and the continuation of BCH/USD decline to the area below 515. An additional signal in favor of reducing Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the 640 region. This option will indicate continued growth of cryptocurrency.