Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 551. 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 bars.
Bitcoin Cash (BCH/USD) forecast and analysis on October 29, 2021
As part of the Bitcoin Cash forecast, a test of the level of 560 is expected. Where can we expect an attempt to continue the fall in BCH/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 510. The conservative area for Bitcoin Cash sales is located near the upper border of the Bollinger Bands indicator strip at 660.
Cancellation of the option to continue the decline in the Bitcoin Cash rate will be a breakdown of the upper border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair above the 670 area. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on October 29, 2021 implies a test level of 560. Further, it is expected to continue falling to the area below the level of 510. The conservative sales area is located near the area of 660. Cancellation of the cryptocurrency fall option will be a breakdown of the level of 670. In this case, we should expect continued growth.