Bitcoin price failed to maintain its jump at past zone of $16,000.
Price now appears to be completing its right shoulder of the reversal formation.
The neckline is positioned around $13,000 and a drawback wreck should cause a downtrend of the identical height as the chart pattern.
The 20 continues to be above the 50 , so the path of least resistance is to the upside. This shows that the rally is more likely to renew than to reversal.
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