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Title: [2017-06-13]GOLDMAN SACHS: Bitcoin is looking 'heavy' Post by: Real14Hero on June 13, 2017, 06:09:04 PM GOLDMAN SACHS: Bitcoin is looking 'heavy'
https://static-ssl.businessinsider.com/image/593fd5e1c4adee7a008b57c0-931/screen%20shot%202017-06-13%20at%2080755%20am.png Bitcoin has had a blistering start to 2017. It's up about 180% so far this year. However, its near-term outlook isn't looking so hot, according to a note released on Monday by Goldman Sachs head of technical strategy Sheba Jafari. "The market has come close (enough?) to reaching its extended (2.618) target for a 3rd of V-waves from the inception low at 3,134," Jafari wrote. "It's on track to forming a bearish key day reversal if today's close settles below 2,749." Bitcoin hit a lifetime high of nearly $3,000 a coin on Monday, but was unable to hold onto those gains. The cryptocurrency finished the day at $2,599, well below they key technical threshold of $2749 that was singled out by Jafari. Now, traders should be paying close attention to $2,475 on a weekly basis, as a close below there would cause even more damage to the technical picture, according to Jafari. "Both daily/weekly oscillators are diverging negatively. All of this to say that the balance of signals are looking broadly heavy." read more here : http://www.businessinsider.in/GOLDMAN-SACHS-Bitcoin-is-looking-heavy/articleshow/59128414.cms |
