Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 231. 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 middle border of the Bollinger Bands indicator strip.
Bitcoin Cash (BCH/USD) forecast and analysis on May 29, 2020
As part of the Bitcoin Cash forecast, a test of level 234 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 214. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at 235.
The 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 248. 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 29, 2020 implies a test level of 234. Further, it is expected to continue falling to the area below level 214. The conservative sales area is near area 235. The breakdown of the cryptocurrency fall option will be the breakdown of level 248. In this case, we should expect continued growth.