Goldman Sachs says Buy Bitcoin!
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
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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STOPThanks.
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.
i usually do the opposite of what GS says but in this case i would have to agree with them and i cant believe im saying that
also BTC did not hit under 9k and no where near yours and edicteds 7500 to 8500 which i was positive that it would not happen although we still have the remainder of the month to go
i would usually side with you guys before GS but i think you guys really blew that one lol
cheers JR and i hope all is well bud
i will be gone for another week starting next weekend and when i come back i hope the alts start doing something lol