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...
Online Joined Germany FlorianGrummes
https://www.midastouch-consulting.com
Markets Allocation
50 % cryptocurrency 6 % stocks 44 % other
Top Mentioned Symbols
FX:XAUUSD 31% | 21 BITFINEX:BTCUSD 18% | 12 BITSTAMP:BTCUSD 15% | 10 FX_IDC:XAUUSD 9% | 6
MidasTouchConsulting MidasTouchConsulting XAUUSD, 1W, Long ,
XAUUSD: Gold - Buying opportunity is coming!
1313 2 12
XAUUSD, 1W Long
Gold - Buying opportunity is coming!

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 closer. But ...

MidasTouchConsulting MidasTouchConsulting BTCUSD, 1D, Long ,
BTCUSD: Bitcoin - Next short-term buying opportunity!
257 0 9
BTCUSD, 1D Long
Bitcoin - Next short-term buying opportunity!

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 is ...

MidasTouchConsulting MidasTouchConsulting BTCUSD, 1D, Short ,
BTCUSD: Bitcoin - Crash confirms “crypto winter” theory!
352 1 5
BTCUSD, 1D Short
Bitcoin - Crash confirms “crypto winter” theory!

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 ...

QSPBTC: Quantstamp - No need to hurry
448 1 2
QSPBTC, D
Quantstamp - No need to hurry

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

MidasTouchConsulting MidasTouchConsulting BTCUSD, D, Short ,
BTCUSD: Bitcoin - Still way too many weak hands in the sector...
600 0 5
BTCUSD, D Short
Bitcoin - Still way too many weak hands in the sector...

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...

XAUUSD: Gold - Patience is king !
1402 25 13
XAUUSD, D
Gold - Patience is king !

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 MidasTouchConsulting IOTUSD, D, Long ,
IOTUSD: IOTA - Take some profits before it will be cut in half
1279 0 7
IOTUSD, D Long
IOTA - Take some profits before it will be cut in half

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 MidasTouchConsulting XAUUSD, D, Short ,
XAUUSD: Gold - Lower prices are very likely
429 1 13
XAUUSD, D Short
Gold - Lower prices are very likely

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 MidasTouchConsulting STEEMUSD, D,
STEEMUSD: Steem - Bollinger band squeeze is coming
230 0 4
STEEMUSD, D
Steem - Bollinger band squeeze is coming

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 MidasTouchConsulting IOTUSD, D, Long ,
IOTUSD: IOTA - Still weak but probably in a basing pattern
493 0 4
IOTUSD, D Long
IOTA - Still weak but probably in a basing pattern

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.

MidasTouchConsulting MidasTouchConsulting DASHUSDT, D, Long ,
DASHUSDT: Dash - Still in a downtrend
64 0 3
DASHUSDT, D Long
Dash - Still in a downtrend

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 MidasTouchConsulting ETHUSD, D, Long ,
ETHUSD: Ethereum - Ascending triangle still in play
374 0 8
ETHUSD, D Long
Ethereum - Ascending triangle still in play

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 MidasTouchConsulting IOTUSD, D, Long ,
IOTUSD: IOTA - Building a bullish base
453 0 8
IOTUSD, D Long
IOTA - Building a bullish base

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 MidasTouchConsulting ETHUSD, D, Long ,
ETHUSD: Ethereum - Ascending triangle will bring much higher prices
1490 5 16
ETHUSD, D Long
Ethereum - Ascending triangle will bring much higher prices

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 MidasTouchConsulting XAUUSD, D, Long ,
XAUUSD: Gold - Main scenario sees wave B ending between 1,315 and 1,345
747 0 8
XAUUSD, D Long
Gold - Main scenario sees wave B ending between 1,315 and 1,345

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 ...

MidasTouchConsulting MidasTouchConsulting XAUUSD, D, Long ,
XAUUSD: Gold - Two scenarios with a buy between 1,245 and 1,265 USD
428 2 8
XAUUSD, D Long
Gold - Two scenarios with a buy between 1,245 and 1,265 USD

Two scenarios for gold: 1. Since the top at 1,357 USD gold is in a correction which usually turns out to be some form of ABC-Correction. If we are still in wave A, the following wave B should take gold back above 1,300 USD. Probably to around 1,315 USD.. After that expect another wave down which might not end before prices around 1,215 - 1,205 USD are ...

MidasTouchConsulting MidasTouchConsulting BTCUSD, D, Long ,
BTCUSD: Bitcoin - Close to a good entry again
279 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 ?!?
613 6 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 ...

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