I think the fact that many people are sitting and waiting for this dip we are all waiting for may some of the reason it doesn't seem to be happening.
As time goes one, more and more give up waiting and start buying in, which seems to be holding the price up. If the price starts rising significantly,FOMO may take over and many of those people with CASH on the exchanges waiting for the dip may start buying creating a decent pump.
Im starting to suspect that the majority of the bitcoin buying keeping the price up is traders getting into ALTs.
I think likes you that a lot of peoples are buying BTC only to speculate on the altcoin market. But the goal for most of traders remain the same: getting more BTC.
It's a kind of new world for most of us because it's hard to trade on stock markets (often costly, unreachable, with closing hours). Cryptocurrencies never stops and it only take minutes to start trading.
I believe we broke some resistance lines that will push the price between 1200-1300USD for a double top, then we will test the low support which should be between 800-900USD according to fibo.