displacement

We can think of a particular market like a body of water, and the buying and selling of that market as adding or subtracting "weight" from that body of water.  So, much like Archimedes principle of displacement, price always goes back to areas of previous breakouts (I use "breakout" to be synonymous with a "breakdown").  If there are more buyers than sellers and price breaks out through a previous resistance area the eventual selling of those buyers will bring price back to the area where accumulation was taking place to fuel the breakout.
With that said, here is the IWM weekly (left) and daily (right) charts:

Worth noting, the weekly time frame came in to a long-standing Support/Resistance pivot and has (so far) held.  That pivot coinciding with an untested gap fill.
As more shorts entered the market around $80.50 and higher, the covering of those short positions (at a weekly support pivot) is causing the displacement of price to return back to a level where "weight" was added (the $80.50 area).  After which time we'll see sideways accumulation or distribution.  We'll know whether it was accumulation or distribution when price breaks out higher or lower from this sideways consolidation.