Bitcoin Cash ends the trading week at 423.32, continues to move within the correction and bearish channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from coin buyers and potential continued growth from current levels. As part of the BCH/USD rate forecast for the next trading week, we should expect an attempt to develop a correction in the value of the digital asset and a test of the support area near the level of 345.05. From where we again expect an upward rebound and an attempt to continue the growth of the Bitcoin Cash cryptocurrency with a potential target above the level of 615.05.
Bitcoin Cash Weekly Forecast November 18 — 22, 2024
An additional signal in favor of an increase in BCH/USD quotes in the current trading week of November 18 — 22, 2024 will be a test of the support line on the relative strength indicator. The second signal will be a rebound from the lower border of the long-term bullish channel. The cancellation of the option of increasing the Bitcoin Cash cryptocurrency next trading week will be a fall and a breakout of the 265.00 area. This will indicate a breakout of the support area and a continuation of the fall of BCH/USD quotes with a target below the level of 175.00. The growth of the cryptocurrency will be confirmed by a breakout of the resistance area and closing of quotes above the level of 595.05, which will indicate a breakout of the upper border of the descending channel.
Bitcoin Cash Weekly Forecast November 18 — 22, 2024 suggests an attempt to test the support area near the level of 345.05. Then, continued growth to the area above the level of 615.05. An additional signal in favor of the growth of Bitcoin Cash will be a test of the trend line on the relative strength indicator. The cancellation of the growth option will be a fall and a breakout of the 265.00 area. This will indicate a continuation of the decline of the cryptocurrency with a target below the level of 175.00.
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