Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 1470.83. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Bitcoin Cash. At the moment, the quotes of the cryptocurrency are moving near the middle border of the indicator Bollinger Bands. A test of level 1420.50 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near the level of 1780.50.
Bitcoin Cash(BCH/USD)forecast and analysis on December 16, 2017
The conservative area for buying is near the lower border of the Bollinger Bands indie bands at 1300.50. The abolition of the option of continuing Bitcoin Cash growth will result in the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of 1190.50, indicating a change in the bearish trend for BCH/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.