Goldmansachs
Complete Market Cycle x BTC Part 9 Possibly the most prolific take on the future of the coin given the current, controversial period of its existence. Here we see a complete market cycle based on the Elliott Wave theory. The layout is limited to primary and intermediate waves only with exception to the emphasis placed on the leading diagonal pattern. The motive VS correctional distinction is also highlighted with 5 intermediate motive waves as well as 3 intermediate correctional waves. The price right now resides in a symmetrical triangle biased to a reversal with a possible false breakout - nothing further than 28k. Thus I strongly believe the 3rd wave of the primary cycle shall follow, taking Bitcoin to new highs and to the moon !
$FSR Goldmans Sachs Releases Bias To Save Trade Desk! UPDATE! $FSR Goldman can sack it, they released a sell rating this morning to 10 citing overcrowding and unrealistic Q4 Targets. This is flat out wrong. Hoping to a see this gap filled in spite of them as there are more buy ratings than sell. Most in the $30s and $40s.
$GS Before earningsGS has put in a larger wave 1, 2 o the daily timeframe, and it seems that this near term pullback that we've experienced could be a wave 3 to 4, looking to break higher in the following days. Indicators show and upwards trend, ready to test those highs again. The only bearish divergence is the conversion wave on the Ichimoku indicator, crossing lower over the last few days. Whether this is a corrective wave or not, due to the recent low on the daily chart, we are still prime to correct to a wave around the .382 or .236 fib levels. If we break higher, then my target of 370.35 is still on target. This is all dependent on ER coming up this week.
Divergence back to FX – Goldman SachsGoldman Sachs discussed the importance of divergence in a recent note to clients, arguing it will be a key driver of FX for the remainder of the year.
Goldman Sachs explains:
We think this divergence will be an important factor for G10 FX this year. It will help inform currencies respond to a faster or slower recovery than expected, and contribute to a different path for policy in normally closely-linked currency pairs.
The expected timing of policy normalization should support CAD and NOK (both components of our USD short basket) while it may eventually hold back GBP (which we currently recommend vs CHF, due to the UK’s successful vaccine rollout).
#Bitcoin: Still showing bullish signs, with strong news week.After Bitcoins crazy run up from 30,000-58,000 we saw an almost $10,000 retracement with many traders reacting in panic.
But is the run really over? I doubt it.
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Below i am going to explain some basic reasons why I think we are going upwards from here:
1. Institutional Interest
Many "High Profile" buyers are still interested and purchasing BItcoin such as Square, Microstrategy & Grayscale Investments.
2. Bullish Pattern
The Falling Wedge is a strong Bullish Reversal Pattern that may give us a good sign buyers are now in control of this market again.
3. Similar Price Action
The current Falling Wedge & Price Action is quite similar to that of $33,000 area, we had a Falling Wedge, aswell as institutional buyers towards the bottom of the pattern. Just like we are currently, as marked on the Falling Wedge forming from $58,000.
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1. Institutional Interest
Below I am listing current news which I think is definitely supporting the idea that the Buyers are in control:
The news is flowing HEAVY around Bitcoin and quite positive! The big guys are interested, and everyone is trying to get a piece of the pie now. The Demand outweighs the Supply.
Microstrategy Purchases more Bitcoin:
twitter.com
JP Morgan recommends 1% in Bitcoin:
techstory.in
Goldman Sachs opens Bitcoin trading again:
markets.businessinsider.com
Twitter Announces $1.25 Billion Convetible Notes Offering (Founder is a fan of Bitcoin, and Microstrategy had a similar offering to generate capital to purchase more Bitcoin:
apnews.com
Square payments buys more Bitcoin:
www.cnbc.com
Cititbank states Bitcoin could become the currency of Global Trade:
www.theblockcrypto.com
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2. Falling Wedge Pattern & Similarities in Price Action
In this pattern price swings 5 times between two converging trendlines while falling to form a “Wedge", this a potential sign the buyers are slowly taking control and we see a "breakout" to confirm this"
Works extremely well with Bulllish Divergence and the pattern has a high sucess rate. It often sweeps the lows at A before breaking out and this is the ideal entry point followed by the bullish retest (B).
Target is the top area of the pattern. Pattern tends to break out when around 60% complete and commonly off the 0.78 fibonacci level.
In the below images you can see the similarities between late January & Now. In January we had the Falling Wedge Pattern with a Tesla purchase, and now we have a similar pattern with a few other big names purchasing (Microstrategy, Square).
First example of the Falling Wedge (Note how Elon Musk purchased around the Bottom of this Pattern before the upwards move began):
Here we can see how once we had the breakout we had a strong upmove:
Here we can see a comparison of the current pattern:
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3. Conclusion
The most important thing to consider when investing and trading Bitcoin is the Fundamentals & Supply & Demand.. currently there is a huge Demand still for buyers of the Cryptocurrency as you can see from the above articles (they are all recent) and the potential signs on the chart as well the buyers are regaining control.. The use case for Bitcoin grows strong with the FED still printing and seeing more and more big names getting behind it every week.
These factors alone give us a high probability of a sustained upwards movement from here.
GS tryna dig a hole to China (for now)Boy do I love gartleys.
Goldman Sachs hit the double top. I predict the value will fall for a few months. But remember gartley is a harmonic pattern rooted in human emotion and this is a fairly large scale to be applying that sort of TA to.
For now I think it's a safe bet to assume the value will fall over the next few months. Target between $242 and $214 if the trend continues.
What do you think?
Oldman Sachs 👴🏾Reddit, WallStreetBets, GameStop, Silver, Dogecoin, Shortselling, Twitter and so on. These key words are currently dominating the financial world. But what comes quickly, fades quickly, too. Let us not be distracted that there are thousands of well-managed and strongly positioned companies that await your investments. While many assets’ future already are gambles in themselves, there are some assets that have withstood time and will almost surely back you in retirement or pay off your children’s and grandchildren’s tuition fees. One of those assets is the Goldman Sachs stock. Currently declining, there might be a great opportunity opening up for an entry within the yellow box. Between $260.49 and $269.12, we expect a turnaround and a soaring Goldman. On its way up, it will surpass the marks of $281.90 and even $317,76, aiming for new peaks. It is important to note, however, that the price should not drop below $260.49, in order to keep the current scenario alive.
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