Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 134. 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 January 31, 2023
As part of the Bitcoin Cash rate forecast, a test of level 130 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 147. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator bands at the level of 129.
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 closing of the pair’s quotes below the 123 area. This will indicate a change in the current trend in favor of a 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 January 31, 2023 implies a test level of 130. Further growth is expected to continue to the area above the level of 147. The conservative buy zone is near the area of 129. The breakdown of the level of 123 will be the cancellation of the growth option for the cryptocurrency. In this case, we should expect a continuation of the fall.
