Bitcoin (BTC) and Ether (ETH) recovered a large part of the losses that happened due to the knee-jerk reaction to China’s regulatory crackdown on Sept. 24. This suggests that crypto markets have absorbed the news-based selling, with long-term investors likely using the dip to accumulate.

However, a rally may have to wait as market participants watch the outcome of the infrastructure bill this week, which could see the debate start on Sept. 27 and the final vote on Sept. 30. The broad definition of a “broker” may cause some volatility in crypto markets but HODLers are unlikely to be shaken.

Daily cryptocurrency market performance. Source: Coin360

Analyst Willy Woo said that “Bitcoin has entered the Never Gonna Give You Up phase of the Astley Cycle,” which could be followed by a rally.

On one side are the “Rick Astley” investors and on the other end of the spectrum is JPMorgan CEO Jamie Dimon who remains steadfast in his criticism of Bitcoin. In an interview with The Times of India, Dimon said that he won’t buy Bitcoin even if it rises “10 times in price in the next five years.”

Could Bitcoin extend its recovery in the next few days or is a range-bound action likely? Let’s analyze the charts of the top 10 cryptocurrencies to find out.