Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 2641.01. 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 the level of 2450.80 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 3150.40.
Bitcoin Cash (BCH/USD) forecast and analysis on January 8, 2018
The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at the level of 2250.50. The abolition of the continuation of Bitcoin Cash 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 quotations below the area of 2100.50, 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.