Cryptocurrency Bitcoin Cash is trading at 186. Quotes continue to move as part of the fall within 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 rate of the Bitcoin Cash cryptocurrency for September 13, 2023. An attempt is expected to develop the growth of prices of the digital asset and test the area of the signal lines of the Ichimoku Kinko Hyo indicator near the level of 190. 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 155.
Bitcoin Cash Forecast and Analysis for September 13, 2023
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 strong signal for sales of the Bitcoin Cash cryptocurrency. The signal was formed due to the intersection of signal lines at the level of 205. The nearest resistance area for Bitcoin Cash is located at the level of 195. The support area for BCH/USD is located at the level of 175.
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 215. 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 the breakdown of the support area and closing of quotes below the level of 180.
Bitcoin Cash Forecast and Analysis for September 13, 2023 assumes an attempt to develop a cryptocurrency correction and a test of level 190. Where can we expect a continuation of the fall in the Bitcoin Cash rate with a potential target near the level of 155. The cancellation of the reduction option will be a strong increase in the price of the asset and a breakdown of the 215 area. In this case, it is worth considering a continued rise in the asset price with a potential target at the level of 255.