Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 434.58. Cryptocurrency quotes are trading below the moving average with a period of 55, which indicates the presence of a bearish trend for Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator. The test is expected at the level of 450.00, from which one can expect an attempt to continue the fall and further develop the downward trend with a target near the level of 395.20.
Bitcoin Cash (BCH/USD) forecast and analysis on October 16, 2018
The conservative sales area for Bitcoin Cash is located near the upper boundary of the Bollinger Bands strip at 460.00. Cancellation of the option to continue falling Bitcoin Cash will be a breakdown of the upper border area of the Bollinger Bands indicator, as well as the moving average with a period of 55 and closing of quotations of the pair above the 520.00 area, which will indicate a change in trend in favor of the bullish BCH/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.
