Bitcoin Momentum Ignition Fails as Price Tests $62,300 Support Level

Bitcoin's initial momentum attempt failed, returning to the Transition Area. Holding above $62,300 allows for continued sideways consolidation; a break below signals a downward trend risk.

Woofun AI data shows that Bitcoin's first attempt at Momentum ignition has failed, validating the trend trajectory predicted for March to April. The momentum indicator briefly crossed above the zero line but lacked sufficient strength to sustain an upward move, subsequently returning to the "Transition Area".

Swissblock indicates that sideways consolidation can persist as long as Bitcoin remains within the $62,300 to $62,500 range and the indicator stays in the Transition Area. The platform emphasizes that the critical factor is whether Bitcoin breaks below this zone; losing this level would end the current consolidation phase and expose the asset to the risk of a downward trend.