Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 112. 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 bands.
Bitcoin Cash (BCH/USD) forecast and analysis on May 23, 2023
As part of the Bitcoin Cash rate forecast, a test of level 114 is expected. Where should we expect an attempt to continue the fall of BCH/USD and further development of the downward trend. The target of this movement is the area near the level of 108. The conservative area for selling Bitcoin Cash is located near the upper border of the Bollinger Bands indicator bands at the level of 115.
Cancellation of the option to continue the decline in the Bitcoin Cash rate will be a breakdown of the area of the upper border of the Bollinger Bands indicator bands. As well as a moving average with a period of 55 and closing of the pair’s quotes above the 123 area. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In the event of a breakdown of the lower 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 23, 2023 implies a test level of 114. Further, the fall is expected to continue to the area below the level of 108. The conservative sales zone is near the area of 115. The breakdown of the level of 123 will cancel the option of falling cryptocurrency. In this case, we should expect continued growth.
