After Holding $65K Support, Can Bitcoin (BTC) Price Break Above $72,600 This Week?
Bitcoin price is once again trading at a critical juncture as derivatives data begins flashing early signs of pressure building beneath the surface. While price action remains relatively stable within a tight consolidation range, liquidation metrics tell a more dynamic story. Rising short liquidations across exchanges suggest that bearish traders are getting squeezed as BTC holds key support levels.
At the same time, liquidation heatmaps reveal a dense cluster of leveraged positions sitting above the current price, particularly near the $70,000 zone. With leverage stacking and volatility compressing, Bitcoin appears to be approaching a decisive move that could define its short-term trajectory.
BTC Short Liquidations Suggest Growing Squeeze Pressure
The latest CryptoQuant data on Bitcoin short liquidations shows a noticeable uptick in forced closures as BTC consolidates near key resistance. Historically, sharp spikes in short liquidations have coincided with strong upward price expansions, especially when Bitcoin holds above important support levels.
The current pattern suggests that bearish traders are increasingly positioned against the move, creating potential fuel for a short squeeze. If Bitcoin breaks above nearby resistance, these trapped short positions could unwind rapidly, pushing the price toward the $70,000 mark. However, without a confirmed breakout, liquidation pressure may cool off, keeping BTC locked in consolidation.
Liquidation Heatmap Shows Heavy Liquidity Cluster Above $70K
The Coinglass liquidation heatmap reveals dense liquidity bands stacked between $70,000 and $72,000, signaling a concentration of leveraged positions above current price levels. In crypto markets, liquidity often acts as a magnet, drawing price toward zones where the most leverage sits.
Compared to the upside cluster, downside liquidity pockets near $65,000 appear relatively lighter. This imbalance slightly favors an upward move, provided Bitcoin continues defending the $67,000–$68,000 support range. A decisive push higher could trigger cascading liquidations, accelerating momentum. But if support fails, BTC may first sweep lower liquidity before attempting any sustained recovery.
Will BTC Price Defend the $65K Support or Rise Above $72K?
The weekly chart is testing a major decision zone after a sharp pullback from its recent highs near $120K. Price has now dropped back into a key horizontal support area around $68,000. A deeper support zone sits near $59,600, marked as the next strong demand region if current levels fail.
Momentum indicators show weakness: RSI is trending near oversold territory around 28, suggesting bearish pressure, while CMF remains negative. signaling capital outflows. Volume has increased on the decline, reinforcing the selling bias. If $68K holds, a relief bounce is possible. However, a confirmed breakdown could open the door toward the $60K region.
Bitcoin Price Levels to Watch This Week
Across the three charts, weekly structure, short liquidations, and the liquidation heatmap, Bitcoin is clearly at a high-probability decision zone, not a random consolidation. The weekly chart shows BTC pulling back into the $67,000–$68,000 support region, with the next major demand zone around $59,600–$60,000. Momentum remains weak (RSI near oversold, CMF negative), suggesting sellers still have short-term control.
However, liquidation data shows heavy liquidity stacked above $70,000–$72,000. That creates upside fuel if bulls defend the current support.
If $67K holds:
Short squeeze toward $70KExtension toward $72KIf momentum builds, $75K becomes possible
If $67K breaks on weekly close:
$63K liquidity pocket$60K major support test
Right now, the Bitcoin (BTC) price is compressing between structural support and upside liquidity. The next weekly close will likely define the direction.
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