Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 197. 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 June 1, 2022
As part of the Bitcoin Cash rate forecast, a test of the level of 190 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 220. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator bands at the level of 170.
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 quotes of the pair below the 150 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 June 1, 2022 implies a test level of 190. Further growth is expected to continue to the area above the level of 220. The conservative buying area is near the area of 170. The breakout of the level of 150 will cancel the cryptocurrency growth option. In this case, we should expect a continued fall.
