Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 291. 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.
Bitcoin Cash (BCH/USD) forecast and analysis on August 21, 2020
As part of the Bitcoin Cash forecast, a test of the level of 298 is expected. Where can we expect an attempt to continue the fall in BCH/USD and further develop the downward trend. The purpose of this movement is the area near the level of 268. The conservative area for Bitcoin Cash sales is located near the upper border of the Bollinger Bands indicator strip at 327.
Cancellation of the option to continue the decline in the Bitcoin Cash rate will be a breakdown of the upper border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and the closing of quotations of the pair above the 330 area. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bars, we should expect an acceleration of the fall of the cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on August 21, 2020 implies a test level of 298. Further, it is expected to continue falling to the area below the level of 268. The conservative sales area is near the area of 327. Cancellation of the cryptocurrency fall option will be a breakdown of the level of 330. In this case, we should expect continued growth.