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April 7th 2020, Crypto Chartbook: How to stay ahead

Korbinian Koller, Midas Touch Consulting
0 Comments| April 7, 2020

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How to stay ahead

The simple answer is: Ask quality questions. If you followed our free telegram channel you were not out of toilet paper, did not lose money in the stock market and were less emotionally frazzled by news than the average citizen. Why? Because we shared our thoughts of anticipatory behavior asking quality questions. In conjunction by having cultivated a highly aware community, these questions were answered by many on a principle basis. If you wait in market participation for important news to come out you are chasing a trade. Not an ideal scenario. Now that the dust of initial events has slightly settled … What now? How to stay ahead?

Some of the questions might be


What has to happen for me to:

  • Send my kids back to school (day care)
  • Visit or invite family and friends
  • Go shopping without a mask
  • Book airline travel
  • Take a vacation

The list is long and some principle based answers might be vaccination, temperatures above 27 degrees, herd immunity and so forth. We are not trying to figure out what it takes to somewhat feel normal again. Neither are we looking at domino effects on various economic factors that only have been triggered by Covid-19. We are trying to stimulate an internal dialogue to anticipatory ask questions and find answers. Answers that allow, when news are actually released, to not be surprised or emotionally triggered. Answers to stay in control of your decision making process. All this prior to news possibly providing answers to subconscious questions which may not be in your best interest. Subsequently might not be principle based for the individual. Most importantly with one goal: How to stay ahead!

BTCUSDT, Daily Chart, Good Trading:


BTCUSDT daily chart as of April 7th, 2020

From a technical analysis perspective markets have been extremely stable. We caught the Bitcoin market just right with two main trades. One we closed out today and the main trade from the lows on 3/13/2020, still carries a runner from our entry at US$4,102. Currently, this last runner is up 77%. This illustrates the significance of the recent price bounce.

BTCUSDT, Daily Chart, No Need For Greed – Profit Taking:


BTCUSDT daily chart as of April 7th, 2020 b

In addition, since the highs on February 13th 2020 we posted live in our telegram channel 136 trades with a hit-rate of 89% and a runner profit average of 32%. Outperforming our own typical averages and this with long trades only in a downward environment. Looking at the chart above where we reached overhead resistance near US$7,600, we have taken substantial profits on our exposure. There is a great confluence of a distribution zone. A 50% retracement of the Fibonacci levels. A strong distribution fractal from previous trading ranges and a upward channel resistance. No need for greed. Even more from a timing perspective the reason why we address, that quality questions are in order to be prepared for further action taking.

Weekly Chart, BTCUSDT, What Now? How To Stay Ahead? :


BTCUSDT weekly chart as of April 7th, 2020

The larger weekly time frame confirms these concerns of prices possible not immediately advancing from here. With strong overhead it is a good time to employ our quad strategy and take some off the table. We also have come close to the mean (blue dotted line) which is not an unusual spot for a direction change or stall.

What now? How to stay ahead?


As mentioned there is already a community in place that does this kind of thinking on a professional level, the Midas Touch Consulting Telegram Channel. In addition you will find answers in our free newsletter. Most importantly though is to find these answers for yourself, no matter with what source and support. That is to say, write your questions and answers down. Further, contemplate possible scenarios and your reactions to them.

In market participation it is wise to use all principle based tools available to create an useful edge. As much as we have a technical analysis dominated approach it is essential to add fundamentals. In times like these when markets are highly news driven the above mentioned advise is critical. Those who are prepared and mulled over various outcomes to various questions and answers will be those, who in the long run will come out ahead of these challenging times. We are looking forward to a prosperous future and we don’t mean this only in a monetary way. Great change provides opportunity in all ways.

If you like to get regular updates on our gold model, precious metals and cryptocurrencies you can subscribe to our free newsletter.



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