Bitcoin Cash completes the trading week at 629.97 and continues to move as part of the rise and the start of the Wedge 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 fall in the value of a digital asset and a test of the support area near the level of 515.05. From where a rebound is expected again and an attempt to raise the Bitcoin Cash cryptocurrency with a potential target above the level of 1055.05.
Cryptocurrency Bitcoin Cash Forecast August 16 — 20, 2021
An additional signal in favor of raising the BCH/USD quotes in the current trading week August 16 — 20, 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 Wedge pattern. Cancellation of the option to raise Bitcoin Cash cryptocurrency next trading week will be a fall and a breakdown of the 385.05 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below 165.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 705.05.
Cryptocurrency Bitcoin Cash Forecast August 16 — 20, 2021 suggests an attempt to test the support area near 515.05. Then continued growth to the area above the level of 1055.05. 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 385.05 area. This will indicate a continued decline in cryptocurrency with a target below 165.05.