Basically, after days of sideways movement, the pressure started to build up and ultimately a massive explosion took place!
First, the moved significantly down (hence pushing price lower), then the made its move up (hence pushing price higher). Give it a few more time for the pressure to increase further (price is forced to move into a tight channel) and then the explosion takes place.
You can find a similar setup before most of the major impulsive movements across any asset and timeframe. First, pressure builds up then, the explosion takes place!