Bitcoin Cash ends the trading week at 454.80 and continues to move as part of the decline and the beginning of the development of the ”Triangle” pattern. Moving averages indicate a bearish trend. Prices broke through the area between the signal lines downward, which indicates pressure from the coin’s sellers 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 correct the value of a digital asset and test the resistance area near the level of 565.05. From where a rebound is expected again and an attempt to drop the Bitcoin Cash cryptocurrency with a potential target below the level of 195.05.
Bitcoin Cash Weekly Forecast December 27 — 31, 2021
An additional signal in favor of a fall in BCH/USD quotes in the current trading week December 27 — 31, 2021 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ”Triangle” pattern. Cancellation of the option of falling Bitcoin Cash cryptocurrency in the next trading week will be strong growth and a breakdown of the 765.05 area. This will indicate a breakdown of the resistance area and continued growth of BCH/USD quotes with a target above the level of 995.05. Confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 345.05, which will indicate a breakdown of the lower border of the bullish channel.
Bitcoin Cash Weekly Forecast December 27 — 31, 2021 implies an attempt to test the resistance area near 565.05. Then, the continuation of the fall to the area below the level of 195.05. 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 a breakdown of the 765.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 995.05.
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