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A full description of the 5.5-yr low excitation events in η Carinae is presented. We show that they are not as simple and brief as previously thought, but a combination of two components. The first, the slow variation component, is revealed by slow changes in the ionization level of circumstellar matter across the whole cycle and is caused by gradual changes in the wind–wind collision shock-cone orientation, angular opening and gaseous content. The second, the collapse component, is restricted to around the minimum, and is due to a temporary global collapse of the wind–wind collision shock. High-energy photons (E > 16 eV) from the companion star are strongly shielded, leaving the Weigelt objects at low-ionization state for more than six months. High-energy phenomena are sensitive only to the collapse, low energy only to the slow variation and intermediate energies to both components. Simple eclipses and …