Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 318. 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 upper border of the Bollinger Bands indicator bands.
Bitcoin Cash (BCH/USD) forecast and analysis on February 7, 2022
As part of the Bitcoin Cash rate forecast, a test of the level of 300 is expected. Where should we expect an attempt to continue the growth of BCH/USD and further development of the upward trend. The target of this movement is the area near the level of 355. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator bands at the level of 265.
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 bands. As well as a moving average with a period of 55 and the closing of the pair’s quotes below the 255 area. 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 February 7, 2022 implies a test level of 300. Further growth is expected to continue to the area above the level of 355. The conservative buy area is near the area of 265. The breakdown of the level of 255 will cancel the cryptocurrency growth option. In this case, we should expect continuation of the fall.
