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Bitcoin Cash Prediction

 


In our last Bitcoin Cash forecast , we wrote that the price could soon fall to the low of the last bear market. Since then, the price has hardly moved and is at the same price level as about a month ago. But the course could soon decide on a direction, which is why we will take a closer look at the course. We are going to tell you whether to exit Bitcoin Cash or not using technical analysis.


The bitcoinCash price has formed support at +/- $270 since our last article. However, the course has also formed a trend line, which constantly serves as resistance. This trendline is heading towards support, which is why we have formed a descending triangle. Descending triangles often serve as a trend continuation formation, which is why we expect a bearish breakout here as well. The course could stay in the triangle for a few more weeks, but it will be time for the course to break out by April at the latest. 70% of the time the course will break down, which is why we assess the situation as an exit from the Bitcoin Cash project. The fact that the price is currently at the bottom of the last bear market is also bearish. This shows us that fewer and fewer people believe in the Bitcoin Cash project.


The target of the descending triangle is around $200. Since there is horizontal support there, we expect a bullish reaction around $200. After that, if the bitcoin cash price wants to continue the downtrend after hitting the target, the price could test $135 in 2022. There is the next major support.

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