Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 1540. 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 May 11, 2021
As part of the Bitcoin Cash forecast, a test of the level of 1385 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 1780. The conservative buying area for Bitcoin Cash is located near the lower border of the Bollinger Bands indicator bars at 1290.
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 the moving average with a period of 55 and the closing of quotations of the pair below the 1200 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, we should expect an acceleration in the fall of the cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on May 11, 2021 implies a test level of 1385. Further, growth is expected to continue to the area above the level of 1780. The conservative buying area is near the area of 1290. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 1200. In this case, we should expect continuation of the fall.