Bitcoin Cash BCH/USD ends the trading week near area 433. The cryptocurrency is trading below the lower border of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in Bitcoin Cash. The current trading week is expected to test the area of the Ichimoku Kinko Hyo signal lines near 500, from where we can expect an attempt to rebound and continue the development of a bearish trend with a target below 300.
Bitcoin Cash forecast October 29 — November 2, 2018
An additional signal in favor of the cryptocurrency fall is the test of the upper limit of the downward channel, as well as the test of the resistance level. Earlier, a signal of average strength was obtained for SELL the Bitcoin Cash cryptocurrency, due to the crossing of signal lines at 495.
Canceling the option of falling BCH/USD quotes will break the upper boundary of the indicator cloud and close above 560, indicating a change in the downward trend in favor of an upward trend. Expect to accelerate the fall of quotations is with the breakdown of the lower boundary of the channel and closing below 700.
Bitcoin Cash forecast October 29 — November 2, 2018 suggests an attempt to develop a correction to the level of 500, expect a rebound and continue cryptocurrency to fall with a potential target near the level of 300, the test of the resistance level will act in favor, the breakdown will be canceled area 560, in this case, we should expect continued growth of Bitcoin Cash.