Why Bitcoin remains on track to break $74K this year

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Bitcoin’s correction appears to be losing steam, as indicated by price momentum divergence, the formation of a Doji candlestick and other bullish patterns.

Bitcoin’s price dropped by over 25% during the Aug. 5 global market rout. However, emerging signals suggest that this decline could be a bear trap, and the price may return to its course toward a new record high in 2024.

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Several altcoins have produced even more impressive gains over the past day, with TON, SOL, and AVAX standing out from the larger caps.

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