"The most dangerous signal has appeared: neither falling nor rising! bitcoin:native has been trending downward since retreating from around $125K, with lower highs and rebounds consistently suppressed by the descending trendline. Recently, the price has been consolidating around $64K, with volatility shrinking and nearing the end of a converging triangle. OKX This pattern is very similar to $6K in 2018 and $20K in 2022. Back then, the market believed the risks had been priced in and that the consolidation levels were safe. But in 2018, it dropped to around $3,200, and in 2022, after the FTX incident, it fell to around $15,500. Both breakdowns had similar characteristics: the overall trend was still downward, volatility kept narrowing, and rebound highs were progressively lower. It’s the same now. ETF funds are supporting the downside but haven’t been able to push $BTC above the descending trendline, indicating that new buying is being absorbed by miners, long-term holders, and trapped positions. So, prolonged consolidation in a downtrend isn’t necessarily building momentum—it could also be exhausting the last layer of support. Here are three key levels to watch next: $65,500–$67,000: A breakout with volume could open the door to $70,000–$73,000 $61,000–$62,000: A breakdown here signals a downward triangle breakout $58,000–$60,000: The final support zone; losing this could mean a drop to $52,000–$55,000 When the market seems the calmest, it’s often the easiest time to let your guard down. My view remains unchanged: we’ll likely see low volatility and more consolidation for about two months, with a real opportunity to bottom out and rally in Q4! (Looking forward to another perfect glass-smash moment!) #Bitcoin #Crypto #BTC #Trading #MarketAnalysis