Bitcoin Cash price forecast-August 21
Bitcoin Cash’s price forecast shows BCH reaching a peak of $ 715 if the currency moves to a crossroads below moving averages.
Key BCH / USD market levels:
Resistance levels: $ 800, $ 850, $ 900
Support levels: $ 600, $ 550, $ 500
BCHUSD – daily chart
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In recent days, the BCH / USD pair has been trying to cross the channel’s upper limit despite selling pressure. However, if Bitcoin’s value falls below the 9-day moving average, the Bears will return to Sunday dominance, although at the time of writing the Bulls are still leading. So as long as the 9-day average remains above the 21-day average, traders can expect the upward trend to continue before reversing. Bitcoin cash price forecast: what is BCH hoping for? At the time of writing, bitcoin cash was trading at a daily loss of 2.67% as its focus shifted to the resistance level of $ 750 after overcoming resistance of $ 715 a few days earlier. However, bitcoin money has been very volatile during the last 6 days of trading. However, the BCH / USD pair reached $ 700 in the early hours of today before returning to the $ 675 it is currently trading at. For now, Bitcoin Cash is still tracking the upward trend, above the 9-day and 21-day moving averages within the channel.
Meanwhile, if the market falls below the support level of $ 650, BCH could decimate the price to initial support of $ 620, and then bring the price to critical support levels of$ 600, $ 550 and $ 500. The technical indicator relative strength index (14) is now falling below 65, which could increase selling pressure, but any bullish move over the channel could probably reach the resistance level of $ 750. Meanwhile, the bullish decoy could reach resistance levels of $ 800, $ 850 and $ 900, respectively.
Compared to Bitcoin, bears have been showing some involvement in the market lately
Bitcoin Cash price forecast: BCH / USD below $ 700
