Goldman Sachs Strikes Bearish Note Amid Bitcoin's Price Highs

From CoinDesk

Wall Street banking giant Goldman Sachs warned its clients that the bitcoin market may be headed for bearish territory.
In a recent client note, published by finance blog Zero Hedge, chief technician Sheba Jafari, offered his view on the digital currency. It's a rare moment for Goldman, which doesn't regularly cover developments around bitcoin or cryptocurrencies.

In a recent market color report on June 12, the banking giant suggested its investor clients to be cautious about a near-term high bitcoin price of $3,134. Further, Jafari suggested that clients consider the market bullish again when the price falls to between $2,330 and $1,915.

Jafari wrote:

"It's on track to forming a bearish key day reversal if today's (June 12) close settles below 2,749. It will also form a key week version if Friday's close is below 2,475. Both daily/weekly oscillators are diverging negatively. All of this to say that the balance of signals are looking broadly heavy."

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It was to be expected, in the weekly frame you can see that he has not had a break and it was time. Thanks for your post

Do you think a drop in bit is bad for all or do you think it will help a crypto like ETH?

Sales are never a bad thing!

But for real, imo, ETH doesn't need BTC to drop for it to grow.

Also does anyone else see this as fear mongering/market manipulation?

Good post, Thanks for this Info

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