Bitcoin Shows Potential for Recovery Bounce Amid Accumulation and Mixed Technical Signals

Key Points

1. Bitcoin bounced from $113,500 after a TD Sequential 'Buy' signal, indicating a potential trend reversal.

2. Trading volume dipped by 14%, but technical patterns suggest improving market structure and growing buyer confidence.

3. If Bitcoin maintains momentum above $114,000, a 3.3% rally to $118,000 is possible, though mixed signals from the Supertrend Indicator suggest caution.

4. Exchange outflows of $18.84 million worth of Bitcoin indicate accumulation, with investors viewing the current dip as a buying opportunity.

5. Institutional interest remains strong, with Metaplanet purchasing 463 BTC valued at $53.7 million, signaling confidence in Bitcoin's medium-term outlook.