Bitcoin Cash ends the trading week at 430.96 and continues to move as part of the decline and the beginning 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 the digital asset and test the resistance area near the level of 545.05. 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 January 3 — 7, 2022
An additional signal in favor of a fall in BCH/USD quotes in the current trading week of January 3 – 7, 2022 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 985.05. Confirmation of the fall of the cryptocurrency will be the breakdown of the support area and closing of quotations below the level of 345.05.
Bitcoin Cash Weekly Forecast January 3 — 7, 2022 therefore suggests an attempt to test the resistance area near 545.05. 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 985.05.
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