Bitcoin Cash BCH/USD is completing the trading week near area 1241. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Bitcoin Cash. On the current trading week, the Ichimoku Kinko Hyo signal line area is expected to test near 1550, from which it is expected to attempt a rebound and continue the development of the bearish trend with a target below the level of 400.
Bitcoin Cash weekly forecast on February 12 — 16, 2018
An additional signal in favor of the drop of the cryptocurrency will be the test of the upper boundary of the bearish channel. Earlier, a medium strength signal was received for the sell of Bitcoin Cash cryptocurrency, due to the crossing of signal lines at 2450 level.
The cancellation of the variant of the BCH/USD price fall will be the breakdown of the upper boundary of the indicator’s Cloud and the closing above the level of 2550, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of falling quotations is with the breakdown of the level of support and closing below the level of 800.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
