Swissblock said Bitcoin’s first momentum push did not turn into a confirmed breakout, with its momentum gauge now moving back into what it described as a transition zone. The firm added that the current sideways structure may still hold if BTC manages to stay above the $62,300 to $62,500 range. The update points to a market that has not yet secured a clean directional break, even after an initial attempt to build momentum. For now, Swissblock’s view centers on whether Bitcoin can defend that narrow support area and keep the consolidation pattern intact.
Swissblock said Bitcoin’s first momentum push failed to produce a valid breakout, and its momentum indicator has now returned to what the firm described as a "transition zone."
The firm said the current sideways structure may remain intact if BTC can hold the $62,300 to $62,500 range.
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