Bitcoin Cash completes the trading week at the level of 500.66 and continues to move as part of the correction and left the ascending channel. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines downward, which indicates pressure from the coin’s sellers and a potential continuation of the fall. 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 595.05. From where a rebound is expected again and an attempt to drop the Bitcoin Cash cryptocurrency with a potential target below the level of 165.05.
Cryptocurrency Bitcoin Cash Forecast July 12 — 16, 2021
An additional signal in favor of reducing the BCH/USD quotes in the current trading week July 12 — 16, 2021 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the resistance area on the price chart. Cancellation of the Bitcoin Cash cryptocurrency fall option in the next trading week will be a strong growth and a breakdown of the 945.05 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 1275.05. Confirmation of a decline in cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 365.05.
Cryptocurrency Bitcoin Cash Forecast July 12 — 16, 2021 suggests an attempt to test the resistance area near the 595.05 level. Then, the continuation of the fall to the area below the level of 165.05. 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 945.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 1275.05.