Cryptocurrency Bitcoin Cash is trading at 400. 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 March 20, 2024. An attempt to develop a correction in the prices of the digital asset and a test of the lower boundary of the Cloud of the Ichimoku Kinko Hyo indicator near the level of 415 are expected. Where can we expect a rebound downward and a continuation of the fall of the BCH cryptocurrency with a potential target below the level of 280.
Bitcoin Cash Forecast and Analysis for March 20, 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 upper border of the bearish channel. Previously, there was a signal of medium strength for sales of the Bitcoin Cash cryptocurrency. The signal was formed due to the intersection of signal lines at the level of 420. The nearest resistance area for Bitcoin Cash is located at the level of 450. The support area for BCH/USD is located at the level of 350.
Cancellation of the option to reduce the 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 460. 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 340.
Bitcoin Cash Forecast and Analysis for March 20, 2024 assumes an attempt to develop a bullish correction of the cryptocurrency and a test of the 415 level. Where can we expect a continuation of the fall in the Bitcoin Cash rate with a potential target near the level of 280. The cancellation of the reduction option will be a strong increase in the price of the asset and a breakdown of the 460 area In this case, it is worth considering the continuation of the rise in the asset price with a potential target at the level of 515.
