Bitcoin Cash ends the trading week at 123.90, continues to move within the correction and the downward 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 continue the growth in the value of the digital asset and test the resistance area near the level of 135.05. From where a rebound down is expected again and an attempt to continue the fall of the Bitcoin Cash cryptocurrency with a potential target below the level of 55.05.
Bitcoin Cash Weekly Forecast March 6 — 10, 2023
An additional signal in favor of falling BCH/USD quotes in the current trading week March 6 — 10, 2023 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the Bitcoin Cash fall option in the next trading week will be a strong growth and a breakdown of the 185.05 area. This will indicate a breakdown of the resistance area and continued growth of BCH/USD quotes with a target above the level of 275.05. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 90.05, which will indicate a breakdown of the lower border of the bullish correction channel.
Bitcoin Cash Weekly Forecast March 6 — 10, 2023 an attempt to test the resistance area near the level of 135.05. Then the continuation of the fall to the area below the level of 55.05. An additional signal in favor of the decline of 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 area of 185.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 275.05.
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