Bitcoin Cash ends the trading week at 704.64 and continues to move as part of the correction and the formation of an inverted ”Head and Shoulders” reversal pattern. Moving averages indicate a bullish trend. Prices broke the area between the signal lines upward, which indicates pressure from buyers of the coin and a potential continuation of the rise. As part of the BCH/USD rate forecast for the next trading week, we should expect an attempt to reduce the value of a digital asset and a test of the support area near the level of 565.05. From where a rebound is expected again and an attempt to raise the Bitcoin Cash cryptocurrency with a potential target above the level of 1255.05.
Cryptocurrency Bitcoin Cash Forecast September 6 — 10, 2021
An additional signal in favor of raising the BCH/USD quotes in the current trading week September 6 — 10, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option to raise Bitcoin Cash cryptocurrency next trading week will be a fall and a breakdown of the 345.05 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below 155.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 805.05, which will indicate the completion of the formation of the ”Head and Shoulders” reversal pattern.
Cryptocurrency Bitcoin Cash Forecast September 6 — 10, 2021 suggests an attempt to test the support area near 565.05. Then continued growth to the area above the level of 1255.05. 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 345.05 area. This will indicate a continued decline in cryptocurrency with a target below 155.05.
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