I got this guy in my daily draw today.
So what I see right now is influenced by two other cards in the same draw.
I've always liked this pose when depicted on the figure in this card - the inverted 4. The upright 4 is frequently seen in cards depicting the Emperor (that's his number), as well as the God or the Lord in pagan decks. 4 - solid, firm, established, orderly, follow-the-rules-and-you'll-get-it-right. It also represents Jupiter, believed to rule both the sun and the moon. In its association with Jupiter, it represents the higher functions of the mind, wisdom and optimism.
And when the 4 is inverted in the posture of the Hanged Man - with the owl also present in the picture - my sense is that the wisdom sought can be gained, but not through conventional means and not without sacrifice or discomfort on the part of the seeker. (The 4 is also reminiscent of the crane pose in some Druidic rites - and it can't be terribly comfortable to pull off, particularly for any extended period of time.)
Crane lore tells me that it maybe necessary to go deep into another world - the underworld, filled with shadows and places I haven't been - to gain the wisdom I seek.