Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 1776.06. 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 cryptocurrency quotes test the upper boundary of the Bollinger Bands indicator bands. A test of level 1700.20 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with the aim near the level of 2020.50.
Bitcoin Cash (BCH/USD) forecast and analysis on May 7, 2018
The conservative buying area for Bitcoin Cash is near the lower border of the Bollinger Bands indicator strip at 1380.50. The abolition of the option of continuing Bitcoin Cash growth will be the breakdown of the lower border area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of 1300.50, indicating 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.