Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 290. 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 bands.
Bitcoin Cash (BCH/USD) forecast and analysis on August 7, 2020
As part of the Bitcoin Cash forecast, a test of the level of 283 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 317. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator bars at 280.
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 266. 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, one should expect an acceleration in the fall of the cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on August 7, 2020 implies a test level of 283. Further, growth is expected to continue to the area above the level of 317. The conservative buying area is near the area of 280. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 266. In this case, we should expect continuation of the fall.