Cryptocurrency Bitcoin Cash is trading at 483. Quotes continue to move as part of the development of the fall and the bearish channel. The BCH/USD rate is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates a medium-term bearish trend for Bitcoin Cash. As part of the forecast for the price of the Bitcoin Cash cryptocurrency on April 17, 2024. An attempt to develop a correction in the prices of the digital asset and a test of the signal line area of the Ichimoku Kinko Hyo indicator near the level of 650 are expected. Where can we expect a downward rebound and a continuation of the fall of the BCH cryptocurrency with a potential target below the level of 395.
Bitcoin Cash Forecast and Analysis for April 18, 2024
An additional signal in favor of such a cryptocurrency movement in the market will be a test of the resistance area on the cryptocurrency price chart. The second signal will be a rebound from the lower border of the bullish channel. Previously, there was a weak signal for sales of the Bitcoin Cash cryptocurrency. The signal was formed due to the intersection of signal lines at the level of 670. The nearest resistance area for Bitcoin Cash is located at the level of 565. The support area for BCH/USD is located at the level of 430.
Cancellation of the option of falling quotes of the BCH/USD crypto asset will be a strong increase in the value of the asset and a breakdown of the upper limit of the Cloud of the Ichimoku Kinko Hyo indicator with the price closing above the level of 620. This will indicate a change in the bearish trend in favor of a bullish trend and continued growth of the cryptocurrency. Expect an acceleration in the fall of BCH/USD quotes with a breakdown of the support area and closing of quotes below the level of 425.
Bitcoin Cash Forecast and Analysis for April 18, 2024 assumes an attempt to develop a bearish correction of the cryptocurrency and a test of the 650 level. Where can we expect continued growth in the Bitcoin Cash rate with a potential target near the level of 395. The cancellation of the rise option will be a fall in the price of the asset and a breakdown of the 620 area. In this case, it is worth considering a continued decline in the asset’s exchange rate with a potential target at the level of 875.
