Bitcoin Cash ends the trading week at 416.93 and continues to move within the rally and ascending channel. Moving averages indicate a bullish trend. Prices bounced off the area between the signal lines, indicating pressure from buyers of the coin and potential continued growth. 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 350.05. From where a rebound is expected again and an attempt to grow the Bitcoin Cash cryptocurrency with a potential target above the level of 615.05.
Cryptocurrency Bitcoin Cash Forecast February 1 — 5, 2021
An additional signal in favor of raising the BCH/USD quotes in the current trading week on February 1 — 5, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound on the lower border of the ascending channel. Cancellation of the growth option for Bitcoin Cash cryptocurrency next trading week will be a decline and a breakdown of the 255.05 area. This will indicate a breakdown of the support area and a continued fall in BCH/USD quotes with a target below the level of 185.05. Confirmation of the rise in cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 530.55.
Cryptocurrency Bitcoin Cash Forecast February 1 — 5, 2021 suggests an attempt to test the support area near 350.05. Then continued growth to the area above the level of 620.05. 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 255.05 area. This will indicate a continued decline in cryptocurrency with a target below the level of 185.05.