A close below $62,000 on solid volume would break the consolidation range. Next structural support lies at $60,000 and $50,000-$55,000.
A convincing close above $66,000 signals consolidation is building a base. Watch whether volume increases on the breakout—weak breaks get reversed.
Intraday wicks above or below levels mean nothing. Only weekly closes on spot volume confirm breakouts and breakdowns. Futures liquidations create false signals.
When Bitcoin rebounds to $66,000, ask: Is volume increasing or fading? Are the rebounds smaller each time? These separate consolidation bases from distribution.
If consolidation breaks down, the next technical support is $60,000, then $50,000-$55,000. Identify these levels now before the move happens.
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