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GOLDMAN SACHS: Bitcoin is going to test $3,000 and could get as high as $3,700

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

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."

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."

Source: Bloomberg Pro Terminal

Trader Bozhidar Arabadzhiev


 Varchev Traders
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