Bitcoin Cash (BCH/USD) forecast and analysis on December 4, 2017

Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 1557.15. 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 cryptocurrency quotes test the upper boundary of the Bollinger Bands indicator bands. A test of level 1470.50 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 1810.50.

Bitcoin Cash (BCH/USD) forecast and analysis on December 4, 2017

Bitcoin Cash (BCH/USD) forecast and analysis on December 4, 2017

The conservative area for buying is near the lower border of the Bollinger Bands indicator bars at 1196.50. The abolition of the option to continue Bitcoin growth will be 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 ​​1130.50, 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.

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