Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 298. 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 bands.
Bitcoin Cash (BCH/USD) forecast and analysis on May 6, 2022
As part of the Bitcoin Cash rate forecast, a test of the level of 290 is expected. Where should we expect an attempt to continue the growth of BCH/USD and further development of the upward trend. The target of this movement is the area near the level of 320. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator bands at the level of 275.
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 bands. As well as a moving average with a period of 55 and closing of the pair’s quotes below the 270 area. 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 in the fall of the cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on May 6, 2022 implies a test level of 290. Further growth is expected to continue to the area above the level of 320. The conservative buying area is near the area of 275. The breakdown of the level of 270 will cancel the cryptocurrency growth option. In this case, we should expect continuation of the fall.
