Bitcoin Cash ends the trading week near the 412 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 25 — 29, 2024, a correction is expected to develop and a test of the upper limit of the Cloud 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 605.
Bitcoin Cash Forecast March 25 — 29, 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 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 285. 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 225. 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 25 — 29, 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 605. 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 285 area. In this case, we should expect the Bitcoin Cash cryptocurrency to continue to fall with a target below the level of 225.
