MidasTouchConsulting

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About me Midas Touch Consulting is an independent precious metals & Bitcoin analyst, trader & investor. We publish a bi-weekly in depth gold & bitcoin analysis...
Joined Germany FlorianGrummes
Markets Allocation
40 % cryptocurrency 9 % stocks 51 % other
Top Mentioned Symbols
XAUUSD 46% | 21 BITSTAMP:BTCUSD 22% | 10 BITFINEX:BTCUSD 11% | 5 IOTUSD 4% | 2
MidasTouchConsulting MidasTouchConsulting BTCUSD, D, Long ,
BTCUSD: Bitcoin - Close to a good entry again
213 2 4
BTCUSD, D Long
Bitcoin - Close to a good entry again

It´s been quite a while that I have been writing about Bitcoin. The rally over the last couple of month has been amazing and one just had to let his winnings run... Now Bitcoin has seen a larger correction, meaning it´s down around 35% from its recent high around 5,000 USD... As you might have realized Bitcoin was topping out with a head&shoulder pattern. The ...

MidasTouchConsulting MidasTouchConsulting XAUUSD, D, Long ,
XAUUSD: Gold - Next bull wave already underway ?!?
452 5 5
XAUUSD, D Long
Gold - Next bull wave already underway ?!?

Gold lost 42 USD over the last 4 trading days and briefly touched 1,315 USD intraday.. The recovery since then is bullish and could indeed be the beginning of the final 5th wave up targeting around 1,375 - 1,400 USD. 1h and 4h chart getting overbought already so an immediate entry does not make too much sense but it could very well mean that anybody who got ...

MidasTouchConsulting MidasTouchConsulting XAUUSD, D, Short ,
XAUUSD: Gold - The air is getting very thin
753 7 10
XAUUSD, D Short
Gold - The air is getting very thin

After breaking through the six year downtrend-line in the last week of July the gold price continuously gained momentum and was finally able to break through the strong resistance zone around 1,300 USD in the last week of august. This super bullish breakout fueled the rally in the last 10 trading days and gold has now reached my first target zone around 1,350 ...

MidasTouchConsulting MidasTouchConsulting IOTUSD, D, Long ,
IOTUSD: IOTA - Bear capitulation brings new buying opportunity
710 1 10
IOTUSD, D Long
IOTA - Bear capitulation brings new buying opportunity

I am a big fan of IOTA. The expected Head & Should pattern played out perfectly in the end although the market did everything to mislead bulls and bears during the last couple of weeks. I guess we just witnessed the bear capitulation.. Couldn't find any news that justify this sell off but as IOTA had gone up so much a nasty correction was necessary. All my ...

MidasTouchConsulting MidasTouchConsulting IOTUSD, 240, Long ,
IOTUSD: IOTA - potential head & should pattern
1049 10 15
IOTUSD, 240 Long
IOTA - potential head & should pattern

I am a big fan of IOTA. With contrarian thinking and some luck it became my largest position in crypto right at the low five weeks ago. Now that prices are up sevenfold I am getting cautious. IOTA is moving fast and might form a bearish Head & Shoulder pattern here. I am not selling one single IOTA but have hedged my position and plan to aggressively buy ...

MidasTouchConsulting MidasTouchConsulting XAUUSD, D, Long ,
XAUUSD: Gold - bullish embedded stochastic ! 1,290/1,300 USD is next
362 1 11
XAUUSD, D Long
Gold - bullish embedded stochastic ! 1,290/1,300 USD is next

Gold remains very bullish here despite any overbought readings.. The breakout above the 6-year downtrend-line is super super bullish. Its the strongest signal for gold since 6 years !!! With the slow stochastic oscillator being embedded the rally will very likely continue over the coming days and weeks towards 1,295/1,300 USD. From there we should or could get a ...

BTCUSD: Cryptocurrencies have a entered multi-month correction
406 6 15
BTCUSD, W
Cryptocurrencies have a entered multi-month correction

The Cryptocurrencies had a spectacular run in the last couple of months. But since mid of June they all moved into a rather nasty correction. Bitcoin went below 2,000 USD already while Ethereum lost more than 65% in six weeks. Yet they are oversold and getting interesting again.  I have been buying IOTA over the last couple of days. It´s up 52% today :-)  ! As ...

MidasTouchConsulting MidasTouchConsulting EXK, D, Long ,
EXK: Buy Endeavour Silver Corp. up to 3.20 USD
133 4 11
EXK, D Long
Buy Endeavour Silver Corp. up to 3.20 USD

Another silver stock that I really like and that I have already recommended in the past is Endeavour Silver Corp.. Although Endeavour had some issues in the last couple of months I continue to believe in Bradford Cook and his team. Endeavour was one of the best performing silver stocks in the first half 2016 and should offer massive leverage in a new silver bull ...

AG: Buy First Majestic Silver up to 8.20 USD
228 0 16
AG, D
Buy First Majestic Silver up to 8.20 USD

It´s been the right thing to wait with any recommendation in the mining sector. But now I feel the time is right. As explained I believe silver has a great potential over the next 8-12 months. The best way to play a multi-months rally in silver are some of the best but currently beaten down silver mining stocks. First Majestic Silver without a doubt is one of the ...

MidasTouchConsulting MidasTouchConsulting XAGUSD, D, Long ,
XAGUSD: Silver - Flash crash, capitulation and a huge opportunity
300 4 18
XAGUSD, D Long
Silver - Flash crash, capitulation and a huge opportunity

I think the silver-market now is cleared from all the weak hands and any stops below the technical important levels around and below 15.80 USD. Of course technically the chart is currently broken but I believe the 12 months correction has ended with a final capitulation that now opens up the door for a new multi-months rally. If gold can indeed move towards 1,500 ...

MidasTouchConsulting MidasTouchConsulting XAUUSD, D, Long ,
XAUUSD: Gold - The lows are in
453 1 18
XAUUSD, D Long
Gold - The lows are in

Gold is very oversold. Pessimism was very high! CoT now looking very good. Seasonality as well. Stochastic with divergences & new buy signal. A bounce towards 1,240 USD is possible at least. But I think we´ve seen the lows and gold will break through the 6-year downtrend line soon. https://s23.postimg.org/cbajzleej/The_Midas_Touch_Gold_Model_07_16_2017.jpg

MidasTouchConsulting MidasTouchConsulting BTCUSD, D, Long ,
BTCUSD: Bitcoin - Cryptomania Going Parabolic!
239 0 3
BTCUSD, D Long
Bitcoin - Cryptomania Going Parabolic!

Bitcoin just reached 2,900 USD!!!! This is unbelievable and amazing. I am very happy that I recommend Bitcoin to you below 375 USD! I remember very well all the hate emails I received back in December 2015. Now in retrospective besides my proper technical analysis this was a great contrarian signal. If you followed my advise your Bitcoins are currently up around ...

MidasTouchConsulting MidasTouchConsulting XAUUSD, D, Long ,
XAUUSD: Gold - Buy The Next Dip Around 1,240 USD
300 1 9
XAUUSD, D Long
Gold - Buy The Next Dip Around 1,240 USD

As expected gold continues to trade between 1,200 USD and 1,300 USD. The recent strong recovery from 1,215 USD up to 1,295 USD just two days ago was a bit surprising as we´re getting close to the FED meeting next week and seasonality is not really favorable in spring. But gold is showing more and more strength and has already been breaking out above its ...

MidasTouchConsulting MidasTouchConsulting XAGUSD, D, Long ,
XAGUSD: A bounce in silver is coming !
163 0 7
XAGUSD, D Long
A bounce in silver is coming !

After 10 days down Silver is very oversold here while gold can still hold above 1260 USD. Get ready for a bounce towards the 50MA/200MA around 18.00 USD. After a bounce the consolidation could continue until the summer.

XAUUSD: Gold - The big picture
212 0 8
XAUUSD, W
Gold - The big picture

Scenario 1: Breakout above 1,265 USD and bull run towards 1,300 USD. Then consolidation between 200 MA and 1,300 USD Scenario 2: Consolidation around the 200MA until early summer. Then breakout. Scenario 3: Another deep pullback within the triangle. Breakout above 1,265 USD later in the summer.

MidasTouchConsulting MidasTouchConsulting XAUUSD, W, Long ,
XAUUSD: Gold - Bounce towards $1,275 is next
398 0 10
XAUUSD, W Long
Gold - Bounce towards $1,275 is next

Once again I am looking at the weekly chart for gold which is oversold and close to very strong support around $1,190 - $1,210. Of course the price action during the last 18 weeks has been disappointing but there is still a good chance that this is the typical deep retracement after the first up-leg in this new bull-market. In the next step gold needs to break the ...

BTCUSD: Bitcoin - Another ascending triangle ?
694 4 15
BTCUSD, W
Bitcoin - Another ascending triangle ?

Bitcoin has been pushing higher reaching overhead resistance between $775 and $740... Note how the Bollinger Bands are starting to move sideways! If this is another ascending triangle we should soon see a pullback towards $625/$590! That of course would be another buying opportunity... Only a breakout above $775 would be extremely bullish. In that case a spike ...

MidasTouchConsulting MidasTouchConsulting XAUUSD, W, Long ,
XAUUSD: Gold - Weekly stochastic extremely oversold
384 3 13
XAUUSD, W Long
Gold - Weekly stochastic extremely oversold

When in doubt take a look at the bigger picture! So far gold has retraced a bit more than 38.2% of the rally from $1,045 to $1,375. This is the minimum condition for a healthy pullback. If it can hold around the current level ($1,250-$1,270) it is showing some real strength and hidden bullish divergence. Looking at the slow stochastic it is extremely oversold and ...

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