Bitcoin risks consolidation as $8,000 approaches – Goldman Sachs

Dhwani Mehta FXStreet

Goldman Sachs’ technical analysts, Sheba Jafari and Jack Abramowitz, warned Bitcoin traders against betting on a break above $ 8000 mark, in a note published Sunday.

Key Points:

The analysts cited pricing levels tracked by technical analysts under what’s known as Elliott Wave theory: “Given that this is just a third of five waves up, the implications are that bitcoin has potential to run further over time.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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