Bitcoin Cash ends the trading week at 924.48 and continues to move within the correction and the upward channel. Moving averages indicate a bullish trend. Prices moved up from 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 continue the fall in the value of the digital asset and test the support area near the level of 725.05. From where a rebound is expected again and an attempt to grow the Bitcoin Cash cryptocurrency with a potential target below the level of 1305.05.
Cryptocurrency Bitcoin Cash Forecast May 3 — 7, 2021
An additional signal in favor of raising the BCH/USD quotes in the current trading week May 3 — 7, 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 bullish channel. Cancellation of the growth option for Bitcoin Cash in the next trading week will be a fall and a breakdown of the 525.05 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below 255.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 1005.05.
Cryptocurrency Bitcoin Cash Forecast May 3 — 7, 2021 suggests an attempt to test the support area near 725.05. Then continued growth to the area above the level of 1305.05. 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 525.05 area. This will indicate a continued fall in the cryptocurrency with a target below the level of 255.05.
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