Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 385. 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.
Bitcoin Cash (BCH/USD) forecast and analysis on May 16, 2019
As part of the Bitcoin exchange rate forecast, a test level of 375 is expected. Where should 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 450. The conservative area for buying of Bitcoin Cash is located near the lower border of the Bollinger Bands indicator strip at a level of 330.
Cancellation of the option to continue the growth rate of Bitcoin Cash will be the breakdown of the area of the lower border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of quotations of the pair below the area of 310. This will indicate a change in the current trend in favor of a bearish for BCH/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on May 16, 2019 implies a test level of 375. Further growth is expected to continue to the area above the level of 450. The conservative area for buying Bitcoin Cash is located area of 330. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 310. In this case, we should expect a further fall.