If Goldman Sachs Makes a Trade Call, Then do the Opposite
Goldman Sachs overnight made the call overnight that Bitcoin has the potential to drop below the February low of $5,922 USD. But if you've been around forex markets for any significant period of time, you'd know that calls from Goldman aren't worth the paper they're written on.
This latest piece of Goldman Sachs gold was based on a short term support level possibly, yes possibly being broken around $9,210.
"The break is significant as implies, potential for a more impulsive decline. The next meaningful level is down at $7,667 to $7,198.”
Jafari's call continued.
"Getting a close break this time around would warn of structural damage, increasing the risk of new local lows. At this point, need to get back through the Feb 26th low for this to stabilise."
This is nothing more than a guess, based on a short term level that means nothing in the grand scheme of things. How a major investment bank is allowed to make these sorts of public calls that will 100% mislead n00bs, is absolutely beyond me.
Also keep in mind that old darling Jafari, the so called head of technical strategy at Goldman Sachs, whatever the fuck that means, is known for her anti Bitcoin stance. Jafari was the man responsible for Goldman's excellent 2017 year end Bitcoin call of $4,000.
Of course we saw that price ended closer to the $20,000 mark. What's a measily $16,000 difference between friends though right?
Absolute junk.
Best of probabilities to you.
Peace ✌🏻.
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