The bart pattern recently has happened on the BTC chart. As users market sold during the circled area, the assumption is many retail traders were stopped out or entered short, meaning a move above will create liquidity as they have tight stop losses or are prone to being liquidated easily. The shorters will also provide support allowing a further move up.
Hence, you may long. Place stop loss below the low or wherever you deem reasonable.
Just my current thoughts. This is backed by bids that prevent price from reaching previous lows. I have bids there also.
Appreciate the analysis. On Mex, however, it already raided the 10384 high, leaving a long fking wick. Any chance that the short stop hunt has taken place?