Goldman Sachs: Bitcoin will get close to $8000

Sheba Jafari, Goldman Sachs technical head provided clients of company with new Bitcoin price forecast
07 November 2017   1564

Sheba Jafari, Goldman Sachs technical head informed the clients of the bank that bitcoin will attempt to take a mark of $ 8000. This is reported by the Business Insider.

It exceeded an equality target from the July low at 6,044. This break indicated potential for an impulsive advance, one that could reach at least 7,941. This is the minimum target for a 3rd of 5-waves up and should therefore be a level from which to watch for signs of a consolidation.
 

Sheba Jafari

Technical head, Goldman Sachs

Goldman Sachs graph
Goldman Sachs graph

Bitcoin Price

At the moment of press, average Bitcoin price is $7242.07. 

Bitcoin Price Chart
Bitcoin Price Chart

Bitcoin reached another all time high ($7592) yesterday, on Monday 6.11.2017. 

Goldman Sachs to Give Bullish BTC Forecast

Goldman Sachs experts expect to see bitcoin near the $ 13,971 mark
12 August 2019   928

While Wall Street representatives sometimes come back to criticize Bitcoin, the well-known investment bank Goldman Sachs gives its own forecast for the price of cryptocurrency. To the surprise of many, it turned out to be bullish.

A note for Goldman Sachs customers on Twitter shared by Three Arrows Capital CEO Su Zhu.

As follows from the publication, in the short term, Goldman Sachs expects to see bitcoin near the $ 13,971 mark.

An unnamed analyst builds his forecast based on the Elliott Wave Theory. According to him, with a high degree of probability, bitcoin will rebound from the level of $ 11,094 in the coming days. After this, the opportunity will arise “for at least one more leap to $ 12,916 and $ 13,971”.

On the other hand, a pullback from the indicated levels should be considered as an opportunity to buy cryptocurrency against the backdrop of weakness, if its rate does not fall below $ 9,084.

What is more surprising: that Goldman Sachs has a bullish target on BTC, that they have any target at all, or that they use Elliott Wave Theory? I'm personally most surprised they cant be bothered to use a chart that includes weekend price action.
 

Su Zhu
CEO, Three Arrows

Short-term stop orders for long positions should be placed at $ 10,791, according to Goldman Sachs.