Bitcoin Cash BCH/USD is trading at 1246. Cryptocurrency quotes are trading above the level of the moving average with a period of 55. This indicates the presence of a bullish trend for Bitcoin Cash. At the moment, the cryptocurrency quotes are moving near the average border of the bands of the Bollinger Bands indicator.
Bitcoin Cash forecast for the week of May 17-23, 2021
As part of the Bitcoin Cash rate forecast, a test of the 1130 level is expected. Where to expect an attempt to continue the growth of BCH/USD and further development of the upward trend. The target of this movement is the area near the 1600 level. The conservative area for Bitcoin Cash purchases is located near the lower border of the Bollinger Bands indicator at the level of 660.
Bitcoin Cash signal for the week of May 17-23, 2021
The cancellation of the option to continue the growth of the Bitcoin Cash rate will be a breakdown of the lower border of the bands of the Bollinger Bands indicator. As well as the moving average with a period of 55 and the closing of the pair's quotes below the area of 620. This will indicate a change in the current trend in favor of a bearish one for BCH/USD. In the event of a breakdown of the upper limit of the bands of the Bollinger Bands indicator, we should expect an acceleration in the fall of the cryptocurrency.
Bitcoin Cash forecast for the week of May 17-23, 2021 suggests a test of the level of 1130. Further growth is expected to continue in the area above the 1600 level. The conservative buy zone is located near the 660 area. The cancellation of the growth option of the cryptocurrency will be the breakdown of the level of 620. In this case, we should expect the fall to continue.