Bears went on a fishing expedition which failed. They dumped into thin books, trying to pressure the market down by making new lows. Buyers snapped price back like a rubber band, driving price right back where it came from. That squeezed the bottom shorters, who are scrambling to close their losing shorts now. This kind of action is called a "short squeeze."
In reality what happened is, some idiots tried to influence the price, fucking failed. Some whale or a bull didn't want the dip to be a success so he risked his money. Or people just collectively came together and bought bitcoin(yeah right!). 
Probably the best recovery in the history of Bitcoin.
No. Definitely not. This recovery was hardly a recovery. The price shot up only by a couple hundred dollars, not a big difference.Way too many people thinking about whales moving everything when whales follow the trend of a market just like everyone else. Even if entities like the Mt.Gox fund controller is around, he is doing the opposite of trying to make a big splash.
The range we're in is quite set, going back many months we been bouncing around these points. Its easy money to buy at one end and even sell the other, we do pass the line sometimes but I imagine quite a few people had orders to buy there and it was enough to close out those short attempts.
Any time short selling fails, its a sudden shift as they are not true sellers and it happens in every market a short seller is just a future buyer