Bitcoin Cash completes the trading week at 550.84 and continues to move as part of the correction and the formation of the “Triangle” pattern. 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 reduce the value of a digital asset and a test of the support area near the level of 540.05. From where a rebound is expected again and an attempt to raise the Bitcoin Cash cryptocurrency with a potential target above the level of 1095.05.
Bitcoin Cash Weekly Forecast December 6 — 10, 2021
An additional signal in favor of raising the BCH/USD quotes in the current trading week on December 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 lower border of the ”Triangle” pattern. Cancellation of the option to raise Bitcoin Cash cryptocurrency next trading week will be a fall and a breakdown of the 375.05 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below 205.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 825.05, which will indicate a breakdown of the upper border of the ”Triangle” model and the beginning of its development.
Bitcoin Cash Weekly Forecast December 6 — 10, 2021 suggests an attempt to test the support area near 540.05. Then continued growth to the area above the level of 1095.05. 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 375.05 area. This will indicate a continued decline in cryptocurrency with a target below 205.05.