What if this V dip is not the completion of the first hump, but an anomaly with a swift price pullback to structure and what is called the second hump is actually the continuation and completion of only the first hump. That would put us at the top of the third hump about to plant the second spike in an attempt to breach the 200MA on the daily and 8500-8600 price point.
Look at the weekly charts of alts that follow Bitcoin's movements (Ether, Ripple, Neo, Stellar). Only two humps with a long wick in the center of the first hump where the V occurs in Bitcoin. What if our view of seeing three humps on Bitcoin clouded our view when there were only two on all these cryptos? What does the backside of this last hump look like for bitcoin and the alts?