Bitcoin Cash completes the trading week near the 116 area and is traded as part of a fall and a descending channel. BCH/USD quotes are moving below the lower boundary of the Ichimoku Kinko Hyo Cloud boundary. This indicates a bearish trend for Bitcoin Cash. In the current trading week September 19 — 23, 2022, a correction is expected to develop and a test of the lower border of the Ichimoku Kinko Hyo indicator Cloud near 125. Where should we expect an attempt to rebound down and continue to fall with a target below the level of 55.
Bitcoin Cash Forecast September 19 — 23, 2022
An additional signal in favor of the fall of the BCH/USD cryptocurrency will be a test of the resistance area on the coin price chart. The second signal will be a rebound from the upper border of the descending channel. Earlier, a weak signal was received for buying the Bitcoin Cash cryptocurrency, due to the crossing of the signal lines at the level of 120.
Cancellation of the option of falling BCH/USD quotes will be a breakdown of the upper border of the indicator Cloud and closing of the price above the level of 155. This will indicate a change in the downward trend in favor of a bullish trend and continued growth to the level of 205. It is worth expecting an acceleration in the fall of quotations with a breakdown of the support area and closing below the level 95.
Bitcoin Cash Forecast September 19 — 23, 2022 suggests an attempt to develop a correction to the level of 125. Where should we expect a rebound and a continued fall of the cryptocurrency with a potential target near the level of 55. A test of the resistance area on the price chart of the BCH cryptocurrency will come out in favor of the fall. The breakdown of the 155 area will cancel the decline option. In this case, we should expect the Bitcoin Cash cryptocurrency to continue to rise with a target above the level of 205.