Bitcoin 10% price drop in February 9, 2017

bitcoin

February 9, 2017

Bitcoin dropped 111 points in Thursday’s trading session due to recent news about two of China’s biggest exchanges stopped Bitcoin withdrawals. Companies OKCoin and Huobi issued a suspension of Bitcoin withdrawals for one month.

This suspension is issued to help companies focus on upgrading their systems to battle money laundering in China.

Bitcoin is currently priced at $1275.91 CAD.

You can buy Bitcoins in Canada both locally and online at localbitcoins.com. Click here to buy now!

 

 

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USDJPY forecast 4H chart- February 9, 2017

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USDJPY 4h chart shows price could find some resistance soon. Stochastic possible bearish crossover soon. While RSI is currently at neutral levels. Back in January a lot of traders predicting the USDJPY will hit the 110 price level soon. Possible continuation of the downtrend for USDJPY.

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USDCAD Forecast 4H and Daily Chart – February 9, 2017

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The 4H chart above for the USDCAD shows the pair went below the consolidation levels of 1.31510-1.32000. Stochastic showing the price is currently in oversold levels. Price may find support at the 50 moving average (Light Blue line). RSI is currently at neutral levels. 4H chart looks short term bearish but traders should go in with caution.

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The daily chart for the USDCAD tells a different story. Price is currently below 200 moving average and stochastic is near the overbought levels and it is looking to form a bearish crossover soon. The pair needs to find support around the 1.30020 level and bounce up to break the current downtrend. The pair has been bearish since December and possibly may continue in the long term.

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WTI Crude Oil Prices March Futures – February 8, 2017

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The WTI Crude Oil Future price is currently slightly below the 50 moving average of 52.67. Stochastic and RSI is currently at neutral levels.  The price ignored recent news about the US having massive amounts of crude supply and ended the day in green with massive short covering. Crude Oil has been in consolidation since November and there is still no clear direction in where the prices are going.

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