This is a very common pattern. First after establishing range, price tries for a fake breakout and dumps below the low of the range and then continues the trend. BTC is currently trying to enter in the range. It should see expansion for next 2-3 weeks. Target is 17k.
This could be a big distribution taking place in SPX. After breaking its Feb '18 lows the bounce has been really violent. Though its approaching really big level of 2800-2820. I would be really cautious at these levels if it gets there.