Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 1588.82. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Bitcoin Cash. At the moment, the quotes of the cryptocurrency are moving near the lower border of the bands of the Bollinger Bands indicator. A test of the level 1680.20 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 1380.50.
Bitcoin Cash (BCH/USD) forecast and analysis on January 31, 2018
The conservative sales area is located near the upper border of the Bollinger Bands indices at the level of 1780.20. The abolition of the continuation of the Bitcoin Cash fall will be the breakdown of the upper range of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes above the 1950.80 area, which indicates a change in the bullish trend for BCH/USD. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.