Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 1513.08. 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 upper border of the Bollinger Bands indicator. A test of level 1400.10 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 1720.50.
Bitcoin Cash (BCH/USD) forecast and analysis on May 4, 2018
The conservative buying area for Bitcoin Cash is near the lower border of the Bollinger Bands indicator strip at 1250.20. The abolition of the continuation of 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 quotations below the 1100.50 area, 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.
