Goldman Sachs Says Bitcoin Can Fall Under $6k

Technical analysts team from Goldman Sachs has new Bitcoin price forecast
13 March 2018   1111

The team of technical analysts at the investment bank Goldman Sachs, headed by Sheba Jafari, who repeatedly gave predictions for the bitcoine rate, expects that the price of the largest crypto currency may fall below the minimums that were observed in February. This is repoted by Business Insider.

The break is significant as implies potential for a more impulsive decline. The next meaningful level is down at $7,667 to $7,198. Getting а сlоѕе brеаk thіѕ tіmе аrоund wоuld wаrn оf ѕtruсturаl dаmаgе, іnсrеаѕіng thе rіѕk оf nеw lосаl lоwѕ (<5,922). At thіѕ роіnt, nееd tо gеt bасk thrоugh 9,322 (thе Fеb. 26th lоw) fоr thіѕ tо ѕtаbіlіze. 
 

Sheba Jafari

Head of technical analysts, Goldman Sachs

In January, against the backdrop of a rapid depreciation of bitcoins, Jafari urged investors to monitor the level of $ 10,000.

Goldman Sachs to Give Bullish BTC Forecast

Goldman Sachs experts expect to see bitcoin near the $ 13,971 mark
12 August 2019   814

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.