Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 1340. 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 May 12, 2021
As part of the Bitcoin Cash forecast, a test of the level of 1260 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 1580. The conservative buying area for Bitcoin Cash is located near the lower border of the Bollinger Bands indicator bars at 1250.
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 area of 1210. 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 of the fall of the cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on May 12, 2021 implies a test level of 1260. Further, growth is expected to continue to the area above the level of 1580. The conservative buy area is located near the area of 1250. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 1210. In this case, we should expect a continuation of the fall.