Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 518.66. Quotes of the cryptocurrency are traded below the level of the moving average with a period of 55, indicating a bearish trend for Bitcoin Cash. At the moment, the quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of level 560.00 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 400.00.
Bitcoin Cash (BCH/USD) forecast and analysis on August 16, 2018
The conservative area for Bitcoin Cash sales is located at the upper border of the Bollinger Bands indicator bars at 620.00. The abolition of the option to continue the Bitcoin Cash fall will be the breakdown of the upper range of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes above the 650.00 area, which indicates a change in the trend in favor of the bullish for BCH/USD. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.
