Bitcoin Cash BCH/USD is trading at 122.60. Quotes continue to move in the framework of the reduction and the beginning of the development of the «Triangle» model. BCH/USD quotes move below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bearish trend in Bitcoin Cash. As part of the Bitcoin Cash Forecast and Analysis March 6, 2019. The test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 127.65. Where can we expect a rebound and the continuation of the fall of the cryptocurrency BCH/USD with the goal below the level of 105.00.
Bitcoin Cash Forecast and Analysis March 6, 2019
An additional signal in favor of reducing cryptocurrency will be the test of the resistance area. As well as a rebound from the lower border of the model «Triangle». Earlier, a strong signal was received for SELL of Bitcoin Cash. The signal was formed due to the intersection of signal lines at the level of 129.00. The nearest resistance area is at 130.00. The area of support for BCH/USD is at 115.00.
Cancellation of the drop in BCH/USD quotes option will be a breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud and a close above the level of 145.00. This will indicate a change in the downward trend in favor of the upward trend and the continued growth of cryptocurrency. Expect to accelerate the decline in quotations BCH/USD stands with the breakdown of the lower boundary of the model «Triangle» and closing below 125.00.
Bitcoin Cash Forecast and Analysis March 6, 2019 implies an attempt to correct cryptocurrency and a test level of 127.65. Where can we expect to continue to decline Bitcoin Cash with a potential target near the level of 105.00. Cancellation option fall will make a strong growth and the breakdown of the area 145.00. In this case, we should expect a continuation of the rise with a potential target at the level of 160.00.