Bitcoin Cash BCH/USD forecast for today May 31, 2021
Bitcoin Cash BCH/USD is trading at 637. Cryptocurrency quotes are trading below the level of the moving average with a period of 55. This indicates the presence of a bearish trend for Bitcoin Cash. At the moment, the cryptocurrency quotes are moving near the lower border of the bands of the Bollinger Bands indicator.
As part of the Bitcoin Cash rate forecast, a test of the 725 level is expected. Where should we expect an attempt to continue the fall of BCH/USD and further develop the downward trend. The target of this movement is the area near the level 420. The conservative area for Bitcoin Cash sales is located near the upper border of the Bollinger Bands indicator at the level of 730.
Bitcoin Cash BCH/USD forecast for Today May 31, 2021
The cancellation of the option to continue the decline in the Bitcoin Cash rate will be a breakdown of the upper border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of the pair's quotes above the area of 820. This will indicate a change in the current trend in favor of the bullish one for BCH/USD. In the event of a breakdown of the lower limit of the bands of the Bollinger Bands indicator, we should expect an acceleration in the fall of the cryptocurrency.
Bitcoin Cash BCH/USD forecast for today, May 31, 2021, suggests a test of the 725 level. Further, it is expected to continue falling to the area below the level of 420. The conservative sales area is located near the 730 area. The cancellation of the fall of the cryptocurrency will be the breakdown of the level of 820. In this case, we should expect continued growth.