Connect with us

Hi, what are you looking for?

ELEVENEWS

Analysis

Bitcoin Cash (BCH/USD) forecast and analysis on May 1, 2018

Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 1408.99. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Bitcoin Cash. At the moment, the quotes of the cryptocurrency are moving near the middle border of the indicator Bollinger Bands. A test of the level of 1310.50 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with a target near the level of 1620.50.

Bitcoin Cash (BCH/USD) forecast and analysis on May 1, 2018

Bitcoin Cash (BCH/USD) forecast and analysis on May 1, 2018

The conservative buying area for Bitcoin Cash is near the lower border of the Bollinger Bands indicator strip at 1300.50. The abolition of the option of continuing Bitcoin Cash growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes below the1200.50 area, which indicates a change in the bearish trend for BCH/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.

Advertisement

Copyright © 2020 Elevenews