I think it's because the market is a cyclical phenomenon. At the end of the day the market is just a big number of actors taking decisions influenced by each other. This hivemind creates certain patterns.
The hivemind is also known as TA
Seriously, while trading is dominated by people using TA, we'll continue to see patterns like this. But if there was a genuine influx of new buyers into the system, the pattern might be broken (because the new users would be coming in because of some real world problem, rather than because they were day-trading using TA).