Bitcoin risks consolidation as $8,000 approaches – Goldman Sachs

Goldman Sachs’ technical analysts, Sheba Jafari and Jack Abramowitz, warned Bitcoin traders against betting on a break above $ 8000 mark, in a note published Sunday.

Key Points:

The analysts cited pricing levels tracked by technical analysts under what’s known as Elliott Wave theory: “Given that this is just a third of five waves up, the implications are that bitcoin has potential to run further over time.”