Bitcoin proves it is no risk haven

Since the last update here on Bitcoin, the price has slumped more than $5000. It was noted here last Thursday; that a drop below technical support at 41,582 would surely lead to another fall below 40k. Well, of course that duly played out on Friday and the downside was further extended in weekend trading too. It has fallen even further overnight despite trying to rebound modestly yesterday. The lead cryptocurrency has dropped to as low as 36,372 so far today. The fall in Bitcoin at the same as the rise in gold today surely confirms once again; that BTC is not the new digital gold, no matter what any so called expert likes to think. However, there is some minor support in place just ahead of 36,250 which has held so far. Beyond there lies another technical level at 36,007. If that does not hold, then the January 24 low at 32,970 could come under threat. Further out, the risk of a fall below 30k remains live and if seen would confirm the formation of the monster double top above 60k. The range seen today has been covered so far by 36,372 to 37,777. It is just now trading at 36,680