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Bitcoin Cash

Bitcoin Cash (BCH/USD) forecast and analysis on August 24, 2019

Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 311. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.

Bitcoin Cash (BCH/USD) forecast and analysis on August 24, 2019

As part of the Bitcoin Cash forecast, a test of level 316 is expected. Where can we expect an attempt to continue the fall of BCH/USD and the further development of a downward trend. The purpose of this movement is the area near the level of 285. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at 325.

Bitcoin Cash (BCH/USD) forecast and analysis on August 24, 2019

The cancellation of the option to continue the depreciation of Bitcoin Cash will be a breakdown of the area of ​​the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of ​​332. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Bitcoin Cash (BCH/USD) forecast and analysis on August 24, 2019 implies a test level of 316. Further, it is expected to continue falling to the area below the level of 285. The conservative area for selling Bitcoin Cash is located area of 325. Canceling the option of falling cryptocurrency will be a breakdown of the level of 332. In this case, we can expect continuation growth.

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Bitcoin Cash

Bitcoin Cash (BCH/USD) forecast and analysis on February 22, 2020

Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 383. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.

Bitcoin Cash (BCH/USD) forecast and analysis on February 22, 2020

As part of the Bitcoin Cash forecast, a test of level 400 is expected. Where can we expect an attempt to continue the fall of BCH/USD and the further development of a downward trend. The purpose of this movement is the area near the level of 335. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at the level of 438.

Bitcoin Cash (BCH/USD) forecast and analysis on February 22, 2020

The cancellation of the option to continue the depreciation of Bitcoin Cash will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of ​​450. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Bitcoin Cash (BCH/USD) forecast and analysis on February 22, 2020 implies a test level of 400. Further, it is expected to continue falling to the area below level 335. The conservative sales area is located near area 438. The breakdown of the cryptocurrency fall option will be the breakdown of level 450. In this case, we should expect continued growth.


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Bitcoin Cash (BCH/USD) forecast and analysis on February 21, 2020

Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 385. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator stripes.

Bitcoin Cash (BCH/USD) forecast and analysis on February 21, 2020

As part of the Bitcoin Cash forecast, a test of level 405 is expected. Where can we expect an attempt to continue the fall of BCH/USD and the further development of a downward trend. The purpose of this movement is the area near the level of 335. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at 430.

Bitcoin Cash (BCH/USD) forecast and analysis on February 21, 2020

Cancellation of the option to continue the depreciation of Bitcoin Cash will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of ​​460. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Bitcoin Cash (BCH/USD) forecast and analysis on February 21, 2020 implies a test level of 405. Further, it is expected to continue falling to the area below the level of 335. The conservative sales area is located near the area of ​​430. The breakdown of the cryptocurrency fall option will be the breakdown of the level of 460. In this case, we should expect continued growth.

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Bitcoin’s crash opens door to a tussle between sentiments

Bitcoin suffered an unexpected drop of 8.44 percent in the past 24 hours. The valuation dropped from $10167 to under $9312, which also resulted in a $10 billion reduction from its market cap. At press time, Bitcoin was priced at $9576 and the market cap was $174 billion.

Bitcoin 1-hour chart

BTC/USD on Trading View

On observing the 1-hour chart of Bitcoin, the slump on 19th February seems almost unavoidable. It was an unexpected turnaround that took many by surprise. The crash was attributed to the massive liquidation that collectively took place on exchanges such as BitMEX and OKEx.

The slump at 21:30 UTC saw the largest digital asset drop below short-term supports at $9737 and $9518. The long term resistance at $9333 was briefly tested but the price managed to jump above $9518 in quick succession.

The descending channel pattern indicated that the price is primed to go above $10,000 once again but the aforementioned drop may slow things down, and open up a couple of cases for price movement.

1st target region

According to VPVR indicator, it has been observed that trading volume at $9333 has been strong over the past month and a bearish scenario may trigger another re-test at $9333 before trying to breach resistance at $9518. Following the breach, the coin may rally to breach $9737 as well. The trading volume at $9737 is significant hence, Bitcoin may consolidate between $9737 and $10012.

2nd target region

Bitcoin may surge beyond the $10,012 resistance in quick succession after breaching $9737. The Relative Strength Index exhibited a reversal after the recent depreciation which may have a say on Bitcoin’s movement over the next few days. The trading volume at $10,012 is comparatively less than the volume at $10,200 hence breaching past $10,000 would directly allow Bitcoin to go above $10,200 as well.

Bitcoin’s volatility

Source: bitpremier

After a steady decline since the start of 2020, BTC volatility exhibited a quick spike on February 15th, which suggested that the market is open for turbulence. The spike in volatility plays in the hands of both the bulls and bears, leveling the field for the next few days.

Conclusion

Bitcoin will eventually go back above $10,000 but the recent dip has dented certain short-term targets. A more conservative rally may see Bitcoin move sideways before crossing $10,000 or another influx in bullish momentum will take it above $10,200 before the end of the week.

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