Bitcoin’s recent price consolidation phase continues, with a slight uptrend and low volatility. However, the cryptocurrency remains within a narrow price range, highlighting the need for a breakout to determine its next direction. On the daily chart, there is a prolonged consolidation near the critical resistance region of $38K, with a bearish divergence between the price and the RSI indicator, suggesting a potential shift towards a bearish outlook. BTC is currently in a crucial price range between the $38K resistance zone and significant support levels. Moving to the 4-hour chart, the consolidation phase has reached the critical resistance level of $38K, forming a rising wedge pattern, which is often a sign of reversal. If the price breaks below the lower trendline of the wedge, it could indicate a potential downturn in the market. On-chain analysis shows that the Exchange Whale Ratio, which measures the ratio between significant inflows from whales and total inflow volume on exchanges, is experiencing significant growth but has not yet reached elevated levels. This suggests a possibility of a notable downturn in the market if the observed pattern continues. However, it is important to monitor this ratio closely as changes in its patterns could impact the price of Bitcoin.