Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 1246. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator bars.
Bitcoin Cash (BCHUSD) forecast on May 17 — 23, 2021
As part of the Bitcoin Cash forecast, a test of the level of 1130 is expected. Where can we expect an attempt to continue the growth of BCH/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 1600. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator bars at 660.
Cancellation of the option to continue the growth of the Bitcoin Cash rate will be a breakdown of the lower border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair below the 620 area. This will indicate a change in the current trend in favor of the bearish for BCH/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Bitcoin Cash (BCHUSD) forecast on May 17 — 23, 2021 implies a test level of 1130. Further, growth is expected to continue to the area above the level of 1600. The conservative buying area is near the area of 660. The cryptocurrency growth option will be canceled by the breakdown of the level of 620. In this case, we should expect the fall to continue.