Cryptocurrency Bitcoin Cash is trading at 218. Quotes continue to move as part of growth and a bullish channel. The BCH/USD rate is trading above the upper border of the Ichimoku Kinko Hyo Cloud. This indicates a medium-term bullish trend for Bitcoin Cash. As part of the forecast for the Bitcoin Cash cryptocurrency rate on September 1, 2023. An attempt is expected to develop the growth in the price of a digital asset and test the area of the signal lines of the Ichimoku Kinko Hyo indicator near the level of 215. Where should we expect a rebound upwards and continued growth of the BCH cryptocurrency with a potential target above the level of 260.
Bitcoin Cash Forecast and Analysis for September 1, 2023
An additional signal in favor of such a movement of the cryptocurrency on the market will be a test of the support 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 strong signal for buying cryptocurrency Bitcoin Cash. The signal was formed due to the crossing of the signal lines at the level of 190. The nearest resistance area for Bitcoin Cash is at the level of 235. The support area for BCH/USD is at the level of 205.
Cancellation of the option to raise the quotes of the BCH/USD crypto asset will be a strong increase in the value of the asset and a breakdown of the lower border of the Cloud of the Ichimoku Kinko Hyo indicator with the price closing below the level of 170. This will indicate a change in the bullish trend in favor of a bearish trend and the continued fall of the cryptocurrency. Expect an acceleration in the growth of BCH/USD quotes with a breakdown of the resistance area and the closing of quotes above the level of 245.
Bitcoin Cash Forecast and Analysis for September 1, 2023 suggests an attempt to develop a cryptocurrency correction and test the level of 215. Where can we expect the Bitcoin Cash rate to continue to grow with a potential target near the level of 260. Cancellation of the rise option will be a fall in the price of the asset and a breakdown of the area of 170. In this case, it is worth considering the continued decline in the asset’s rate with a potential target at the level of 125.
