Bitcoin Cash ends the trading week at 341.01 and continues to move within the rally and ascending channel. Moving averages indicate a bullish trend. Prices went up again the area between the signal lines, which indicates pressure from buyers of the coin and potential continued growth. As part of the BCH/USD rate forecast for the next trading week, we should expect an attempt to fall in the value of a digital asset and a test of the support area near the level of 295.65. From where a rebound is expected again and an attempt to grow the Bitcoin Cash cryptocurrency with a potential target above the level of 500.05.
Cryptocurrency Bitcoin Cash Forecast January 4 — 8, 2021
An additional signal in favor of raising the BCH/USD quotes in the current trading week on January 4 — 8, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound on the lower border of the ascending channel. Cancellation of the growth option for the Bitcoin Cash cryptocurrency in the next trading week will be a decline and a breakdown of the 205.05 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 125.05. Confirmation of the rise in cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 425.05, which will indicate a breakdown of the upper border of the ascending channel.
Cryptocurrency Bitcoin Cash Forecast January 4 — 8, 2021 suggests an attempt to test the support area near 295.65. Then continued growth to the area above the level of 500.05. An additional signal in favor of the rise in 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 205.05 area. This will indicate a continued decline in cryptocurrency with a target below 125.05.
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