Forecast from Goldman Sachs: Bitcoin Can Drop Below 5,922 USD

The technical analysis team of Goldman Sachs reports that the bitcoin is under the risk of dropping below the February low, which is 5,922 USD. The team has warned its clients that after the short-term passing of the support at the level 9,210 USD, the coin will start declining in value. The support level was passed some days ago, now, there is a declining time.

As Jafari, the team leader, stated, the break of the support level is a significant event. It signalizes about a much more rapid decline rather than about the stabilization of the coin price. The next important level is between 7,667 USD and 7,198 USD per coin.

This break would warn about the further decline to 5,922 and lower. If after this, the coin value doesn’t recover till the level 9,322 USD, the further drop is expected, to 4,000 USD. The experts believe, that this drop is caused by the sell off of the famous Mt. Gox. Further, the situation shall stabilize.

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