Market intel from Goldman Sachs suggests investors should capitalize on the current price dip and buy bitcoin.
Goldman's technical analysis team suggest that the short-term target for bitcoin (BTC) is $13,971 and that investors should consider buying on any dips in the current scenario.
The investment bank said that, based on its Elliott Wave analysis, BTC would find support around $11,094, and that there’s scope for a move higher to $12,916, then $13,971.
“Any such retracement from $12,916-$13,971 should be viewed as an opportunity to buy on weakness as long as it doesn’t retrace further than the $9,084 low,” they said.
It should be noted that the prices used for the analysis don’t include weekend prices and are likely from futures market data.
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