Cryptocurrency Bitcoin Cash is trading at 124. Quotes continue to move as part of growth and have left the limits of the downward channel. BCH/USD is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates a bearish trend for Bitcoin Cash. As part of the forecast for the Bitcoin Cash cryptocurrency rate on September 8, 2022. An attempt is expected to develop a correction in the price of a digital asset and a test of the upper border of the Ichimoku Kinko Hyo indicator Cloud near the level of 120. Where should we expect a rebound upwards and continued growth of the BCH cryptocurrency with a potential target above the level of 150.
Bitcoin Cash Forecast and Analysis September 8, 2022
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 upper border of the descending channel, which was broken upwards by buyers. Earlier, a weak signal was received for buying Bitcoin Cash cryptocurrency. The signal was formed due to the crossing of the signal lines at the level of 113. The nearest resistance area for Bitcoin Cash is at the level of 145. The support area for BCH/USD is at the level of 110.
Cancellation of the growth option for BCH/USD cryptoasset quotes will be a fall 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 105. 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 135.
Bitcoin Cash Forecast and Analysis September 8, 2022 suggests an attempt to correct the cryptocurrency and test the level of 120. Where can we expect the Bitcoin Cash rate to continue to grow with a potential target near the level of 150. In this case, it is worth considering a continuation of the decline in the asset’s rate with a potential target at the level of 75.