Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 232. 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 lower border of the Bollinger Bands indicator stripes.
Bitcoin Cash (BCH/USD) forecast and analysis on May 12, 2020
As part of the Bitcoin Cash forecast, a test of level 242 is expected. Where can we expect an attempt to continue the fall of BCH/USD and the further development of a downward trend. The purpose of this movement is the area near the level of 217. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at 280.
Cancellation of the option to continue the depreciation of Bitcoin Cash will be a breakdown of the area of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of 282. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on May 12, 2020 implies a test level of 242. Further, it is expected to continue falling to the area below level 217. The conservative sales area is located near area 280. The breakdown of the cryptocurrency fall option will be the breakdown of level 282. In this case, we should expect continued growth.
