MidasTouchConsulting

MidasTouchConsulting Updated 

Gold has been in a massive and brutal downtrend over the last four months! Initially my worst case scenario was a move down to 1,240 USD. After a short-lived bounce this support was taken out by the bears and gold moved lower and lower since early July... On Monday this week the psychological support at 1,200 USD was taken out too and during the last three days...

MidasTouchConsulting Updated 

The rally in the US-Dollar has been wreaking havoc on gold. Over the past two weeks, the metal has suffered one of its most devastating losses in 40 years. During the past 10 trading days, gold only had one single up day, with a total loss of more than 4%. Thursday’s decline was enough to also push it to a six-month low. Since end of January I have been warning to...

MidasTouchConsulting

The long awaited pullback in gold is in the making.. !! There is still a bit more room to the downside but I don´t see gold falling below 1,240/1,250 USD anymore.. The perfect buying spot is getting very close... Our patience is paying off.. get ready to load the truck!

MidasTouchConsulting

Finally gold broke through its multi months support at 1,305 USD and has moved clearly below 1,300 USD. We have anticipated this scenario since end of January. Now all the weak hands, that have emotionally been buying gold during the tricky sideways consolidation in spring, are under water and are shaken out. This moment of panic is coming closer and...

MidasTouchConsulting

Since our last analysis Bitcoin 0.32% continued to rally and reached 9,900 USD ten days ago. Obviously our cautious view came a bit early but the last 5-10% of any rally are always the most dangerous ones. At that stage everybody is getting very bullish and weak hands are finally buying while the underlying market moves further into an overbought setup and risk...

MidasTouchConsulting

After failing at 11,800 USD for the second time Bitcoin has been quickly losing ground. Over the last couple of hours prices crashed more than 1,000 USD down to 9,400 USD. That´s a drawdown of nearly 20% in just three days. Volatility is obviously back since the market has finished its “slowly creeping up” phase. Technically Bitcoin has been breaking down from a...

MidasTouchConsulting

I really like Quantstamp (QSP) but still some way to go until promising buying zone ... Be patient...

MidasTouchConsulting

The crypto sector is in a correction that is not over yet... Bitcoin can easily move back towards 8,000 USD. Ether towards 700 USD. Many altcoins could lose all their recent gains.. Be very careful. Still way too many weak hands in the sector...

MidasTouchConsulting

Gold might have one more push higher but the next larger wave will be very likely down and should bring a new buying opportunity between 1,260 and 1,280 USD

MidasTouchConsulting Updated 

IOTA had an incredible run over the last weeks. I have been aggressively buying into weakness in September and October below 0.45$. Now it is about to reach the 3.618% Fib extension at 3.78$ and is getting overbought in the short-term. I´d recommend to take some profits off the table and put some limit buy orders between 1,50$ and 1,90$. As far as I can see the...

MidasTouchConsulting

Gold remains in a corrective structure and might soon test its 200MA around 1,260 USD. If this level doesn't hold expect a sell off down to 1,205 - 1,235 USD. In this zone gold would be a buy again. Until that remain patient even though there might be some short-term recoveries and spikes due to the oversold situation that could be confusing.

MidasTouchConsulting

Steem is moving sideways since early June between roughly 0.95 and 1.60 USD. The chart doesn't look too bullish here but the steep rise in spring certainly needed time to be digested. If 0.90 USD does not hold there is potential for a sell off down to 0.30 USD. On the upside it would be good to see prices back above the 50MA and above the 200EMA. Bollinger...

MidasTouchConsulting

IOTA has been going through a steep correction over the last two and a half months. A clear downtrend channel has emerged. Yet my buying zone between 0.35 - 0.50 USD has been holding so far and I assume that we are in a basing pattern here. The positive divergence in the stochastic points to a bullish breakout and higher prices.

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Since its all-time high at 412 USD in late August Dash is in a correction. We might see further weakness that could lead to a another test of the former resistance zone around 190 -220 USD. Here Dash would be a great contrarian buy again. Trend followers instead will likely wait for a breakout buy signal above the red downtrend line currently around 310 USD.

MidasTouchConsulting

After the glorious rally from 8 USD up to 420 USD within less than six months, Ethereum is in a consolidation since early June. It looks as if this consolidation takes the form of a bullish ascending triangle, which means that a breakout above 400 - 420 USD will likely initiate the next furious big up-leg. If you add the height of the triangle to the potential...

MidasTouchConsulting Updated 

IOTA seems to be building a base here.. My buying orders between 0.50 and 0.35 USD have been mostly executed and I expect IOTA to test the downtrend channel around 0.52 USD rather soon. If it breaks out the 50MA (0.57 USD) and the upper Bollinger Band (0.64 USD) are the next targets... Only below 0.37 USD the correction could intensify one more time. BUY below...

MidasTouchConsulting

After the glorious rally from 8 USD up to 420 USD within less than six months Ethereum has been in a consolidation over the last four months. It looks as though this consolidation is taking the shape of a bullish ascending triangle meaning a breakout above 400 - 420 USD will likely start the next leg up. If you take the height of the triangle and add it to the...

MidasTouchConsulting

Gold did indeed continued its correction and reached a low at 1,260 USD on Friday the 6th of October. I hope you followed my advise and went long below 1,265 USD, cause since then a strong recovery is on its way and gold is already back above 1,300 USD. Yet the big questions whether this current up-move is just a wave B type recovery or in deed the beginning of...