Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 256. 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 2, 2020
As part of the Bitcoin Cash forecast, a test of level 251 is expected. Where can we expect an attempt to continue the growth of BCH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 278. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator strip at 232.
Cancellation of the option to continue the growth of the Bitcoin Cash rate will be a breakdown of the lower 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 below the area of 228. This will indicate a change in the current trend in favor of the bearish for BCH/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, it is worth waiting for the acceleration of the fall of the cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on May 2, 2020 implies a test level of 251. Further growth is expected to continue to the area above level 278. The conservative buying area is located near area 232. The breakdown of the growth option for cryptocurrency will be the breakdown of level 228. In this case, we should expect continued fall.
