Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 111. 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 middle border of the Bollinger Bands indicator.
Bitcoin Cash (BCH/USD) forecast and analysis on February 2, 2019
As part of the Bitcoin Cash forecast, the test is expected at the level of 117. Where should we expect an attempt to continue the fall of BCH/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 103. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at level 119.
Cancellation of the option to continue the decline in Bitcoin Cash will be the breakdown of the upper border 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 area of 125. 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 bands, one should expect an acceleration of the fall of the cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on February 2, 2019 implies a test level of 117. Further, it is expected to continue falling to the area below the level of 103. The conservative area for selling Bitcoin Cash is located area of 119. Breaking the option of falling cryptocurrency will result in a breakdown of the level of 125. In this case, we should expect continued growth.