Bitcoin Cash completes the trading week near the 204 area and is traded within a correction and a bearish channel. BCH/USD quotes are moving below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates a bearish trend for Bitcoin Cash. In the current trading week September 4 — 8, 2023, a correction is expected to develop and a test of the lower border of the Ichimoku Kinko Hyo indicator Cloud near 210. Where should we expect an attempt to rebound down and continue to fall with a target below the level of 70.
Bitcoin Cash Forecast September 4 — 8, 2023
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 the sale of the Bitcoin Cash cryptocurrency, due to the crossing of the signal lines at the level of 260.
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 275. This will indicate a change in the bearish trend in favor of a bullish trend and continued growth to the level of 345. It is worth expecting an acceleration in the fall of quotations with a breakdown of the support area and closing below the level 165.
Bitcoin Cash Forecast September 4 — 8, 2023 suggests an attempt to develop a correction to the level of 210. Where should we expect a rebound and a continuation of the fall of the cryptocurrency with a potential target near the level of 70. A test of the resistance area on the BCH cryptocurrency price chart will come out in favor of the decline. The breakdown of the 275 area will cancel the fall option. In this case, we should expect the Bitcoin Cash cryptocurrency to continue falling with a target below the level of 345.
