Bitcoin Cash (BCH/USD) forecast and analysis on May 9, 2018

Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 1674.99. 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 middle border of the indicator Bollinger Bands. A test of the level of 1580.50 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with a target close to the level of 1900.50.

Bitcoin Cash (BCH/USD) forecast and analysis on May 9, 2018

Bitcoin Cash (BCH/USD) forecast and analysis on May 9, 2018

The conservative buying area for Bitcoin Cash is near the lower border of the Bollinger Bands indicator strip at 1550.20. The abolition of the option of continuing 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 quotes below the area of 1400.50, 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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