Bitcoin Cash BCH/USD is trading at 683. Cryptocurrency quotes are trading below the moving average level 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 average border of the Bollinger Bands indicator bands.
As part of the Bitcoin Cash rate forecast, a test of the 830 level is expected. Where to expect an attempt to continue the fall of BCH/USD and further development of the downward trend. The target of this movement is the area near the level of 350. The conservative area for Bitcoin Cash sales is located near the upper border of the Bollinger Bands indicator at the level of 1070.
Bitcoin Cash trading signal for the week June 7-13, 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 1150. 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 forecast for the week of June 7 - 13, 2021 suggests a test of the level of 830. Further, it is expected to continue falling to the area below the level of 350. The conservative sales area is located near the 1070 area. The cancellation of the fall of the cryptocurrency will be the breakdown of the level of 1150. In this case, we should expect continued growth.