Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 535. 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 (BCH/USD) forecast and analysis on August 5, 2021
As part of the Bitcoin Cash forecast, a test of the 520 level 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 580. The conservative buying area for Bitcoin Cash is located near the lower border of the Bollinger Bands indicator bars at 570.
Cancellation of the option to continue the growth of the Bitcoin Cash rate will be a breakdown of the area of the lower border of the Bollinger Bands indicator bars. As well as a moving average with a period of 55 and closing of quotations of the pair below the area of 500. 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 in the fall of the cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on August 5, 2021 implies a test level of 520. Further, growth is expected to continue to the area above the level of 580. The conservative buying area is near the area of 570. The cryptocurrency growth option will be canceled by the breakdown of the level of 500. In this case, we should expect continuation of the fall.