Bitcoin Cash ends the trading week at 306.05, 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 correct the value of the digital asset and test the resistance area near the level of 415.05. From where a rebound is expected again and an attempt to fall the Bitcoin Cash cryptocurrency with a potential target below the level of 35.05.
Bitcoin Cash Weekly Forecast March 7 — 11, 2022
An additional signal in favor of falling BCH/USD quotes in the current trading week March 7 — 11, 2022 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 fall option for the Bitcoin Cash cryptocurrency in the next trading week will be a strong growth and a breakdown of the 605.05 area. This will indicate a breakdown of the resistance area and continued growth of BCH/USD quotes with a target above the level of 745.05. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 205.05.
Bitcoin Cash Weekly Forecast March 7 — 11, 2022 suggests an attempt to test the resistance area near the level of 415.05. Then the continuation of the fall to the area below the level of 35.05. 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 605.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 745.05.
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