Bitcoin Cash ends the trading week near the 400 area and is trading within the framework of growth and the formation of the “Triangle” pattern. 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 March 18 — 22, 2024, a correction is expected to develop and a test of the signal line area of the Ichimoku Kinko Hyo indicator is expected near 385. Where can we expect an attempt to rebound upward and continue growth with a target below the level of 590.
Bitcoin Cash Forecast March 18 — 22, 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 Triangle pattern. 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 for growth of BCH/USD quotes will be a breakdown of the lower border of the Indicator Cloud and closing of the price below the level of 215. 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 155. Expect an acceleration in the growth of quotes with a breakdown of the resistance area and closing above the level 505, which will indicate a breakdown of the upper border of the “Triangle” model and the beginning of the development of a pattern with targets at the top.
Bitcoin Cash Forecast March 18 — 22, 2024 assumes an attempt to develop a correction to the level of 385. Where can we expect a rebound and continued growth of the cryptocurrency with a potential target near the level of 590. 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 215 area. In this case, we should expect the Bitcoin Cash cryptocurrency to continue to fall with a target below the level of 155.
