Goldman Sachs says Buy Bitcoin!steemCreated with Sketch.

in bitcoin •  last month 

Well kinda sorta...

In a slide deck from a technical analysis team at the bank, it was revealed that their technical analysis was saying buy bitcoin now for a move up to almost $14k.

Specifically they were calling for a move to $13,971.

Here is the chart from their slide:

(Source: https://www.coindesk.com/goldman-sachs-analysts-note-says-nows-a-good-time-to-buy-bitcoin)

How did they come up with this number?

It was based on the Elliott Wave theory.

The investment bank said that, based on its Elliott Wave analysis, BTC would find support around $11,094, and that there’s scope for a move higher to $12,916, then $13,971.

Their advice to their clients?

“Any such retracement from $12,916-$13,971 should be viewed as an opportunity to buy on weakness as long as it doesn’t retrace further than the $9,084 low."

There you have it, Goldman Sachs' technical analysis says now is the time to buy Bitcoin.

Stay informed my friends.

-Doc

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Run!

Their TA desks have been pretty decent on their calls actually.

they are the one manipulating

they bought cheap at 3k and now wanna sell

It's certainly possible. Their TA calls have been decent in the past.

Anyway news can say whatever it want to, Just keep buying it!! 😁 hope it don't jump just yet, I get to buy some in 12 hours 😂

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As long as it goes there, the time-frame is less important to me!

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Awesome to see an institution like Goldman Sachs integrating Bitcoin into their analysis and making a call like this! A great sign of evolution and adoption!

Yep, that was my take as well. Just the fact they are shipping these charts to their clients is big news.

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