Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 1247.08. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Bitcoin Cash. Currently, the cryptocurrency quotes are testing the lower boundary of the Bollinger Bands indicator bars. A test of the level of 1300.50 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 1080.20.
Bitcoin Cash (BCH/USD) forecast and analysis on May 17, 2018
The conservative area for Bitcoin Cash sales is located at the upper border of the Bollinger Bands indicator bars at 1520.00. The abolition of the option to continue 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 area of 1600.50, indicating 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.