MidasTouchConsulting

MidasTouchConsulting

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 Updated 

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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Bitcoin is gaining steam and getting ahead of itself a bit here. Second day outside the Bollinger Band makes it soon vulnerable to some profit taking around $700..

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In contrast to most of the other uranium stocks UEC has been holding up pretty well over the last 18 months. In mid of May the stock shot up 111% from 0.69USD to 1.46 USD within 12 trading days. In the following three and a half months the stock as been consolidating this sharp move within a large triangle.  On the last day in september UEC broke down from this...

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Due to the liquidation wave in the COMEX future paper market the gold price is down more than $135 (-9.8%) from its recent high in early July. This is a healthy and necessary pullback which offers the chance to buy the dip. The price target of the multi-month descending triangle pattern has already been reached at $,1240. Basically gold has just corrected back to...

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Since the flash crash in early august bitcoin has been slowly but steadily recovering. Yesterday the price quickly exploded higher and bitcoin has regained a rather important uptrend line. Despite the fact that there a some overbought tendencies we have the most bullish development of all: The slow stochastic oscillator is now bullish embedded and should push...

MidasTouchConsulting Updated 

Multi-month agonizing sideways consolidation in FX_IDC:XAUUSD continues. Main scenario: Gold can hold above $1,300 and will soon start the next leg up towards $1,415 - $1,430. Worst case scenario: Gold is breaking the trend-line and corrects towards $1,262 - $1,295. That would be a great buying opportunity. Only below $1,255 new bull market gets into serious trouble.

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The consolidation since early august continues. BITSTAMP:BTCUSD Only a move below the rising green trend-line around $545 would indicate that something is wrong with the bull thesis. But as long as Bitcoin is holding above its 50MA ($592) and especially above its 200EMA ($553) a rally towards the next resistance level around $635 should be just a question of...

MidasTouchConsulting Updated 

Gold has been consolidating over the last two and a half months. It did everything to confuse everybody. But besides all this short-term noise there has been a very important and extremely bullish development. The Slow Stochastic Oscillator is sitting with both signal-lines above 80 for more than 3 months now and has therefore converted into the rare embedded...

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Bitcoin has been moving sideways for the last three weeks. With the low volatility this has led to a very narrow Bollinger Band. Today Bitcoin is breaking down from this bottleneck. Not a good sign, which is typically followed by a strong move in this direction. The first target is the uptrendline around $595 - $600. Worst case will be a pullback down to the...

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Bitcoin has been running far into the apex of its potential triangle pattern. Usually this means the pattern is either not happening or the move out of it will only be very shallow. Overall the consolidation does not change the big picture. Bitcoin is on the way to $800 and $1,000. Let your winning run and keep your stop at $465

MidasTouchConsulting

A pullback in Gold FX:XAUUSD has been confirmed last week. Target should be the rising 50-MA ($1,282) or the uptrend line (currently $1,250). In any case buy the next dip between $1,262 - $1,295.

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Besides any short-term consolidation within this triangle, QUANDL:BITFINEX/BTCUSD Bitcoin is on the way to $800 and $1,000. Let your winning run and move your stop to $465

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A strong Monday and gold should move directly towards $1,415 within the next two weeks. Otherwise we should get a pullback. In any case wait to buy the next dip between $1,262 - $1,295.

MidasTouchConsulting

Gold FX:XAUUSD made a blow off top last Friday thanks to the Brexit panic. Now it should retrace/pullback at least 38%-50% of the move since 1st of June from $1,200 to $1,358. Overall Gold is in a new bull-market and in a strong uptrend. Therefore BUY THE DIPS. The next one should come in between $1,262 and $1,290... Stop has to be below $1,232 - better below...

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Since the top in early November at $500 Bitcoin has been in a large consolidation. I have often written about this rising triangle formation and the massive potential. Now the breakout has finally happened and the price for one Bitcoin surged fast and furious to nearly $600. Our position is nicely up and we just have to let our winnings run. Of course, Bitcoin...

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Here are the potential scenarios: 1. More sideways consolidation above/around $1,200 over the next couple of weeks until 200MA ($1,266) is hitting $1,200. That might take some more time. 2. Final sell off down towards the rising 200MA ($1,166) which would get everybody panicking and would create an outstanding entry chance. 3. The lows are already in and once...

MidasTouchConsulting

First time since mid of march that gold is touching the lower Bollinger Band. Gold is short-term oversold and ready for a bounce that could take it back to $1,260. Overall the correction towards $1,180 - $1,215 likely will become a lengthy back & forth battle. Just be patient. The weekly chart is still far from being oversold. Buy the dip between $1,180 - $1,215...