One rally does not a trend make -- the crucial question is how will this rally resolve? Will it pullback just a bit and then punch through the thin 3day ichi cloud? Will it breach the big resistance zones of 700-730 and then remain on top of that cloud? Or is this simply the last of the bear market rallies, and will we see the same downward bias as this rally unwinds, potentially bouncing down on top of the triangle that was resistance before?
Personally, I think that the expectations of a perfect repeat of the November rally within the 239 day cycle (thus reaching $4000+ levels by the end of July) are overblown. There are simply too many people expecting such a repeat performance, and so yes, at first it's a self-fulfilling prophecy -- but it's also an opportunity for market makers to corral the schools of bull-fish into a perfect trap of their own making. I think a new ATH rally will come, but much later.
When everyone starts expecting the rally, it's too obvious, and it usually causes the most pain. November was a surprise for everyone, and the panic buying happened because nobody really knew where it would end. In this case, the widespread charts of the next bubble are so mainstream they could kill a hipster with one glance.
I do think we could have a strong rally past the 700 zone, and it could possibly breach the november ATH -- but it will likely fall short of the $4-5K that everyone is salivating over. When expectations become so common, they often collapse on themselves. And don't forget -- China hasn't resolved a single thing with their exchanges. PBOC has yet to make *any* clarifications on how such exchanges will be allowed to proceed. They could see another bubble forming and decide to smack it down, as right now the exchanges are basically circumventing their directives. China leadership doesn't like to be embarassed...