The Bitcoin Cash cryptocurrency ends the trading week near the area of $1431.98 and is trading within the correction and the ascending channel. BCH/USD quotes are moving above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bullish trend for Bitcoin Cash. In the current trading week of May 10 — 14, 2021, the correction is expected to develop and test the area of the Ichimoku Kinko Hyo indicator signal lines near $1215.05. From where we should expect an attempt to rebound and continue growth with a goal below the level of $1905.05.
Bitcoin Cash forecast for the week of May 10-14, 2021
An additional signal in favor of the rise of the BCH/USD cryptocurrency will be a test of the support area. The second signal will be a rebound from the lower border of the bullish channel. Earlier, a strong signal was received for purchases of the Bitcoin Cash cryptocurrency, due to the intersection of signal lines at the level of $955.05.
Bitcoin Cash signal for the week of May 10-14, 2021
The cancellation of the option of raising the BCH/USD quotes will be a breakdown of the lower border of the indicator Cloud and closing below the level of $685.05. This will indicate a change in the bullish trend in favor of a bearish trend. Expect an acceleration in the growth of quotations with a breakdown of the resistance area and a close above the level of $1705.05.
Thus, the Bitcoin Cash exchange rate forecast for the week of May 10 — 14, 2021 suggests an attempt to develop a correction to the level of $1215.05. From where we can expect a rebound and continued growth of the cryptocurrency with a potential target near the level of $1905.05. The support area test will be in favor of the rise. The cancellation of the growth option will be the breakdown of the $685.05 area. In this case, we should expect the Bitcoin Cash cryptocurrency to continue falling with a target below the level of $545.05.