Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 707.90. 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 upper border of the Bollinger Bands indicator bars. A test of the level 720.50 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 640.00.
Bitcoin Cash (BCH/USD) forecast and analysis on July 16, 2018
The conservative area for Bitcoin Cash sales is located at the upper border of the Bollinger Bands indicator strip at 720.60. The abolition of the continuation of 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 area of 750.20, indicating a change in the bullish trend 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.