This is a very and sign for atleast local reversal. BTC is currently at a point where it has to make a major move.
BTC D1 TF ( Bitcoin Compound Fulcrum pattern)
The similar patterns we've seen in the past, for example copper . Between 1975 and 1979, Copper Futures entered a compound fulcrum which is very close resembles the one we see in the case of BTC . As we see Copper Futures price made 2x after compound fulcrum.
Copper Futures 1974-1979 (Compound Fulcrum pattern)
Capestone Turbine Corporation (CPST) below shows that compound fulcrums have also been seen in stocks. Between August 2013 and December 2013, we saw CPST trade in a compound fulcrum. Towards the beginning of January, the price shot up to the top of the and then broke out of it to continue a new cycle and also made 2x rise.
CPST D1 TF Aug 2013 - Jan 2014 (Compound Fulcrum pattern)
So now lets discuss what target is by BTC according to compound fulcrum pattern.
Before reversing trend to BTC should breakthrough EMA21 (7000$) and EMA50 (7180$) on ( BTC W1 TF), then the road to market will be opened.
According to our previously mentioned DIAMOND pattern we have the target at 7800$. Now lets add target by compound fulcrum: first one at 8500$ and then second at 10000$.
BTC D1 TF (Targets by BTC Compound Fulcrum pattern)
I have a feeling that soon we can see rally without returning back to 6k$ level. Previously I've supposed that BTC will rise to the area at 7200$-7400$ and then drops back to 6300$ or even lower to 5850$, but now I'm in doubt about falling back.
Anyway hope you have opened your LONG positions and after each rise we will update stoploss.
And important remark: dont expect non-stop rise till 8500$ or 10000$, the rise will be with bounces at restistance levels at around 7050$-7200$ (EMA21 and EMA50 on D1 TF / Kijun on D3 TF) and at around 7700$-8200$, depending on how fast the rise will be, BTC could probably bounce from lower border of on D3