[Analysis: Bitcoin's First Momentum Ignition Fails, Consolidation Possible if $62,300 Holds] BlockBeats reports that on August 16, blockchain analytics platform Swissblock stated that Bitcoin's first momentum ignition has failed, meaning the previously indicated trajectory from March to April remains valid. It noted that the momentum indicator briefly rose above the zero axis but lacked sufficient strength for a complete ignition, and has now returned to the 'Transition Area.' Swissblock explained that as long as Bitcoin holds the $62,300 to $62,500 range and the momentum indicator remains in the Transition Area, the current trend can still maintain consolidation. It emphasized that the failure of momentum ignition is not uncommon; the key concern is whether Bitcoin will break below the Transition Area. If this area is lost, Bitcoin will exit its current consolidation structure and face renewed risk of retreating into the capitulation phase. [Original Link]