The diamond pattern occurs most often after a prolonged trend phase. When it occurs within the context of a bullish market, the pattern is referred to as a diamond top, or a bearish diamond pattern due to its bearish implication. Conversely, when it occurs within the context of a bearish market, the pattern is referred to as a diamond bottom, or a bullish diamond pattern due to its bullish implication.
Once again we see some mind games that BTC is playing with us...it is going to destroy all the bears and Bulls.