Bitcoin Cash ends the trading week at 435.16 and continues to move within the rally and ascending channel. Moving averages indicate a bullish trend. Prices moved up from 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 360.55. From where a rebound is expected again and an attempt to grow the Bitcoin Cash cryptocurrency with a potential target above the level of 635.05.
Cryptocurrency Bitcoin Cash Forecast February 8 — 12, 2021
An additional signal in favor of raising the BCH/USD quotes in the current trading week on February 8 — 12, 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 in the next trading week will be a decline and a breakdown of the 275.05 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 195.05. Confirmation of the rise in cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 515.55.
Cryptocurrency Bitcoin Cash Forecast February 8 — 12, 2021 suggests an attempt to test the support area near 360.55. Then continued growth to the area above the level of 635.05. An additional signal in favor of a 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 275.05 area. This will indicate a continued decline in cryptocurrency with a target below the level of 195.05.