Swissblock said Bitcoin’s first momentum ignition attempt has failed, leaving its previously outlined path tied to the March-to-April price structure still in place. According to the blockchain analytics platform, the momentum indicator briefly moved above the zero line, but the move lacked enough strength to qualify as a full ignition and has now slipped back into what it called the “Transition Area.”
The firm said the current consolidation can remain intact as long as Bitcoin holds the $62,300 to $62,500 range and the momentum indicator stays inside that transition zone. In Swissblock’s view, a failed ignition by itself is not unusual. The more important signal is whether Bitcoin breaks below the Transition Area. If that zone is lost, the asset would move out of its current consolidation structure and face the risk of falling back toward a capitulation phase.
Blockchain analytics platform Swissblock said on Aug. 16 that Bitcoin’s first momentum ignition attempt has failed, meaning its previously outlined price path linked to the March-to-April structure remains valid.
According to Swissblock, the momentum indicator briefly rose above the zero line, but the move was not strong enough to form a complete ignition. It has now moved back into the “Transition Area.”
$62,300 to $62,500 remains the key range
Swissblock said Bitcoin can continue trading in consolidation as long as it holds the $62,300 to $62,500 range and the momentum indicator remains in the Transition Area.
The platform added that a failed momentum ignition is not unusual on its own. The main level to watch is whether Bitcoin falls below the Transition Area. If that zone is lost, Bitcoin would leave its current consolidation structure and again face the risk of dropping back into a capitulation phase.
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