Bitcoin Cash nds the trading week at 209.21, continues to move as part of the fall and the downward channel. Moving averages indicate a bearish trend. Prices have gone down from the area between the signal lines, 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 fall in the value of the digital asset and test the support area near the level of 185.05. From where a rebound is expected again and an attempt to start the rise of the Bitcoin Cash cryptocurrency with a potential target above the level of 395.05.
Bitcoin Cash Weekly Forecast May 16 — 20, 2022
An additional signal in favor of falling BCH/USD quotes in the current trading week May 16 — 20, 2022 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 Bitcoin Cash cryptocurrency growth option in the next trading week will be a fall and a breakdown of the 145.05 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 75.05. The rise of the cryptocurrency will be confirmed by a breakdown of the resistance area and closing of quotes above the level of 245.55.
Bitcoin Cash Weekly Forecast May 16 — 20, 2022 suggests an attempt to test the support area near the level of 185.05. Then continued growth to the area above the level of 395.05. An additional signal in favor of the rise of Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 145.05. This will indicate the continued fall of the cryptocurrency with the target below the level of 75.05.
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