Bitcoin Cash ends the trading week at 113.30, continues to move within the correction and the bearish channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines down, which indicates pressure from the sellers of the coin 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 fall in the value of the digital asset and test the support area near the level of 105.05. From where a rebound is expected again and an attempt to continue the growth of the Bitcoin Cash cryptocurrency with a potential target above the level of 150.05.
Bitcoin Cash Weekly Forecast June 5 — 9, 2023
An additional signal in favor of the rise in BCH/USD quotes in the current trading week June 5 — 9, 2023 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the descending channel. Cancellation of the option to raise the Bitcoin Cash cryptocurrency in the next trading week will be a fall and a breakdown of the 55.65 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below the level of 25.05. The growth of the cryptocurrency will be confirmed by a breakdown of the resistance area and closing of quotes above the level of 100.05.
Bitcoin Cash Weekly Forecast June 5 — 9, 2023 suggests an attempt to test the support area near the level of 105.05. Then, continued growth to the area above the level of 150.05. An additional signal in favor of the growth of Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the rise option will be a fall and a breakdown of the 55.65 area. This will indicate a continued decline in the cryptocurrency with a target below the level of 25.05.
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