Goldman Sachs chief technician Sheba Jafari predicts that the Bitcoin may reach a new high over $3,600 very soon.
According to a report at Business Insider, the movement is well synced with Jafari’s earlier analysis that price would drop temporarily below $2,000 and will rise again. This is exactly what has happened.
Bitcoin did go all-time high over $3,000 on June 12 and soon it collapsed to around $1,800 on the CoinDesk Bitcoin Price Index. Soon after fall in price, it recovered again and is on the road of going higher.
Jafari now believes the price of bitcoin is in for a very small period of fluctuation until price growth begins.
“Anything above 3,000 (June 13th high) will suggest potential to have already started wave V, which again has a minimum target at 2,988 and scope to reach 3,691,” Jafari.
Via: Coin Desk