GOLDMAN SACHS: Bitcoin is going to test $3,000 and could get as high as $3,700 by Jonathan Garber on Business InsidersteemCreated with Sketch.

in #bitcoin7 years ago

Bitcoin has held strong support and has its sights set on a test of the $3,000 level, according to Goldman Sachs.

In a note sent out to clients on Monday, Sheba Jafari, the head of technical strategy at the bank, updated her recent chart work on the cryptocurrency.

The $1,856 to $1,790 area "has the potential to act as strong support," Jafari wrote. "All in all, the balance of signals appear to be shifting to a more positive tone."

Jafari's latest note comes two weeks after she predicted the cryptocurrency was setting up for a big drop.

At the time of her call, bitcoin was trading near $2,550 a coin. She said that bitcoin was "still in a corrective 4th wave" that "shouldn't go much further than 1,857." It fell a bit further, putting in a low somewhere between $1,758 or $1,852 (depending on which data you use).

Jafari, however, always expected the gains would resume after the correction.

And that they have.

Bitcoin has gained more than 20% from its July 17 low, and currently trades near $2,285. As to how far bitcoin can go from here, Jafari expects another run at record highs. "The minimum target for an eventual Vth wave from current levels is 2,988; an extended 5th could reach ~ $3,691."

Bitcoin is up 140% in 2017. It put in a record high of about $3,000 on June 12.

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http://www.businessinsider.com/bitcoin-price-goldman-sachs-test-3000-maybe-3700-2017-7?utm_content=bufferfc1d2&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer-ti

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I guess this means get ready huh?

That seems to be the case :)

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Awesome! If you could reward me with Steem that would be great as well.
Have a great day!

I used to have 0.25 BTC back when it was $250... If only I invested them on ethereum atm I would have thousands of dollars

It happens to us all. I used to have ETH when it was $13 and sold most of it except for 1.5 coins jajaja.