Bitcoin Cash ends the trading week near the 582 area and is trading within the growth and bullish channel. BCH/USD quotes are moving above the upper border of the Ichimoku Kinko Hyo Cloud. This indicates a bullish trend for Bitcoin Cash. In the current trading week of April 1 — 5, 2024, a correction is expected to develop and a test of the signal line area of the Ichimoku Kinko Hyo indicator is expected near 525. Where can we expect an attempt to rebound upward and continue growth with a target below the level of 725.
Bitcoin Cash Forecast April 1 — 5, 2024
An additional signal in favor of the rise of the BCH/USD cryptocurrency will be a test of the support area on the coin price chart. The second signal will be a rebound from the lower border of the bullish channel. Previously, a weak signal for purchases of the Bitcoin Cash cryptocurrency was received due to the intersection of signal lines at level 230.
Cancellation of the option to increase BCH/USD quotes will be a breakdown of the lower border of the Indicator Cloud and closing of the price below the level of 325. This will indicate a change in the bullish trend in favor of a bearish trend and a continuation of the fall to the level of 265. Expect an acceleration in the growth of quotes with a breakdown of the resistance area and closing above the level 615.
Bitcoin Cash Forecast April 1 — 5, 2024 assumes an attempt to develop a correction to the level of 525. Where can we expect a rebound and continued growth of the cryptocurrency with a potential target near the level of 725. A test of the support area on the BCH cryptocurrency price chart will be in favor of the rise. Cancellation of the growth option will be a breakdown of the 325 area. In this case, we should expect the Bitcoin Cash cryptocurrency to continue to fall with a target below the level of 265.
