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Goldman Sachs says Buy Bitcoin!

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jrcornel
79
4 months agoBusy

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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