So, what are the best coins one can buy for profit this week?
Ethereum ETH:
Ethereum’s market witnessed a bearish wave last week, as it dropped from around 0.138 BTC last Tuesday to around 0.1031 BTC at the time of writing of this update. By examining the ETHBTC 4 hour chart from Poloniex (look at the below chart), while executing the Bollinger bands’ indicator, we can plot a Fibonacci retracement that extends between the low recorded on the 9th of May (0.03872711 BTC) and the high recorded on the 13th of June (0.15329264 BTC), to identify key resistance and support points.
Ripple XRP:
After recording a high of around 12,300 satoshis last Tuesday, Ripple’s price dropped down to stabilize around 10,000 satoshis. To determine key resistance and support points, we can plot a Fibonacci retracement that extends between the low recorded on the 2nd of May (3,571 satoshis) and the low recorded on the 16th of May (24,456 satoshis) on the XRPBTC 4 hour chart from Poloniex (look at the below chart).
As we can note on the chart, the 76.4% Fibonacci retracement, which corresponds to 8,500 satoshis, represents a strong support level that prevented further price drop.
I recommend buying Ripple XRP somewhere between 10,200 satoshis and 10,500 satoshis and then setting a sell order for the bought coins at 11,549 satoshis or even higher at 12,500 satoshis.
Dogecoin DOGE:
Dogecoin’s DOGE market witnessed a bearish wave during the past week, as it dropped from 125 satoshis to 100 satoshis earlier today. By examining the 4 hour DOGEBTC chart from Poloniex (look at the below chart), we can plot a Fibonacci retracement that extends between the low recorded on the 17th of May (41 satoshis) and the high recorded on the 22nd of May (189 satoshis). The 61.8% Fib retracement level (97 satoshis) represents a strong support level that prevented further drop in Dogecoin price, as shown by the long downwards shadows of the candlesticks near this level on the below chart.!
I recommend buying DOGE somewhere between 95 and 100 satoshis and then setting a sell order for the bought coins at 115 satoshis or even higher at 132 satoshis.
