Smart Money used the range to trap retail traders to provide liquidity and to get rid of weak hands who slow the move. The fake breakout to the upside turned those buyers into sellers as it broke out of the range to the downside. Short sellers saw this and joined in, providing liquidity for smart money's massive buy orders below. Once they bought up all the available supply they used market orders to aggressively move prices up to the supply zone. Now buyers are trapped and the false sell pattern on intraday caused shorts to buy, adding more liquidity for smart money as they have massive sell orders to fill.