Florian Grummes | TalkMarkets | Page 1
Precious Metals and Bitcoin Analyst
Contributor's Links: Midas Touch Consulting
Florian Grummes (born 1975 in Munich) is an independent precious metals analyst, trader & investor. He writes a bi-weekly in-depth analysis for one of Germany´s largest gold and silver retailer the "pro aurum group". As well ...more


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Gold - Monthly Closing Above USD 2,000 Triggers Breakout Rally
Gold is on the verge of its first monthly closing above USD 2,000. If achieved by the end of November, an initial surge to the all-time high of around USD 2,075 is expected to follow.
Gold – Tenacious Correction Not Definitely Finished
On June 29th, with gold reaching an intraday low at USD 1,893 we turned bullish. After a nice bounce back towards USD 1,987, we urged some caution and expected another pullback.
Gold – Topping Process Followed By A Pullback
While US regulators are racing to secure the sale of California bank First Republic, the US banking crisis continues and is far from being over. Gold, on the other hand, remains the currency of last resort and has no counterparty risk.
Bitcoin – Every Pullback Is A Buying Opportunity
The daily chart is bullish and suggests a rise to around 30,000 USD soon. On the downside, ideally, the new support around 25,000 USD should already withstand possible attacks by the bears.
Bitcoin – Next Target 30,000 USD
As more traditional financial institutions enter the space and new use cases for blockchain and web3 technology emerge, the outlook for Bitcoin and the wider cryptocurrency market remains positive.
Gold – Rally Is Losing Momentum
Gold posted an impressive rally over the last three months. At the same time, the overbought situation and the fading momentum call for caution.
Bitcoin – Significant Recovery Expected
Historically, a weekly close with a 20% gain after a prolonged bear market with a loss of 75% or more has always resulted in bitcoin bottoming out.
Gold – Fight Around The 200-Day Moving Average Not Yet Decided
Once the typical 8-year low in the gold market is clearly established, a strong uptrend with new all-time highs should follow.
Bitcoin - Some Chance For A Recovery
Two months before year-end there is some chance for a (small) recovery towards around 25,000 USD. Hence, a new attack on the support at around 18,000 USD would not be expected until 2023.
Bitcoin – In The Midst Of An Epic Liquidity Crisis
For bitcoin, the support in the area around 18,000 USD is at stake. Should the bears be able to prevail, prices will likely correct further towards 14,000 USD and 10,000 USD.
Gold: Close To The Edge
While official inflation rates shot up to record highs, the gold market has instead seen first euphoria, then sheer panic, and finally a disappointing summer rally over the past eight months.
Bitcoin – Recovery Reaches First Price Target
Over the last few weeks, bitcoin was able to stage a recovery. Just two days ago, bitcoin prices reclaimed the 25,000 USD level for the first time since June 13th.
Gold – Summer Rally Has Started
With a buy signal on the daily chart, a bombed-out sentiment, and a very favorable seasonal component, there are currently three strong arguments on the table for an imminent summer rally in the gold market.
Bitcoin – Relief Rally In The Summer?
A worldwide asset price meltdown is shaking up the minds of all investors and traders these days. The crypto sector was hit hardest. Bear market rallies in bitcoin can be extreme.
Bitcoin – Risk-Off Dominates All Markets
In the big picture, bitcoin is still trading in the large sideways range between roughly $30,000 and $65,000.
Bitcoin Wins The Race
Globalization, a cultural and trade exchange process in an interconnected world, is endangered by recent political events. Interrupted business through sanctions affects the value of fiat currencies as well as alliances between nations.
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