No flight into the safety of bitcoin

Down $500

Bonds have been a haven. Gold was for a while but now gold is down ($-5.60 or -0.37%).  The JPY and CHF has had the Pavlovian reaction of flow of funds (which may be questionable).  

What about bitcoin?

Down $500
Not today. 

The price of bitcoin on the Coinbase exchange including weekend trading is down $510 on the day after declining on Saturday and Sunday as well. The decline from the Saturday high has taken -15.7% off of the price of bitcoin on the Coinbase exchange.

Technically, the price has moved back below its 200 day moving average at 8666.32 and its 100 day moving average at 8403.90.  It will take a move back above those levels to swing the bias more to the upside again.  On the downside, the low price for the year comes in at $6854.57.  Swing lows going back to November and December come in and near the $6500 level.

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