Bitcoin Cash ends the trading week at 694.85 and continues to move as part of the correction and the rising channel. Moving averages indicate a bullish trend. Prices are testing 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 to grow in the value of the digital asset and test the resistance area near the level of 795.05. From where a rebound is expected again and an attempt to drop the Bitcoin Cash cryptocurrency with a potential target below 175.05.
Cryptocurrency Bitcoin Cash Forecast May 31 — June 4, 2021
An additional signal in favor of reducing BCH/USD quotes in the current trading week May 31 — June 4, 2021 will be a test of the resistance 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 Bitcoin Cash cryptocurrency fall option in the next trading week will be a strong growth and a breakdown of the 1065.05 area. This will indicate a breakdown of the resistance area and a continued rise in BCH/USD quotes with a target above the level of 1625.05. Confirmation of a decline in cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 375.05.
Cryptocurrency Bitcoin Cash Forecast May 31 — June 4, 2021 suggests an attempt to test the resistance area near 795.05. Then, the continuation of the fall to the area below the level of 175.05. An additional signal in favor of the fall in Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and a breakdown of the 1065.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 1625.05.
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