Can Bitcoin (BTC) Price Rise Above $72,600 After Maintaining $65K Support?

February 16, 2026

Bitcoin Prices Test Critical Support Levels

Bitcoin is navigating a pivotal period as derivatives data indicates some underlying pressures. The price movements themselves are kind of stable, bouncing around in a tight range, but the liquidation indicators present a more dynamic picture. There’s been an uptick in short-term liquidations across various exchanges, pointing to bearish traders feeling the squeeze while Bitcoin maintains crucial support levels.

Additionally, the liquidation heatmap shows a significant concentration of leveraged positions above the current price, especially around the $70,000 mark. With leverage increasing and volatility dipping, it seems like Bitcoin is gearing up for a decisive move that could shape its near-term direction.

BTC Short Liquidation Signals Squeeze Pressure

The most recent data from CryptoQuant on Bitcoin short selling highlights a significant rise in liquidations as BTC hovers near important resistance levels. Historically speaking, dramatic spikes in short-term liquidations often coincide with notable price surges, particularly when Bitcoin is holding above key support levels.

The current scenario indicates that bearish traders are increasingly positioning themselves against the trend, potentially setting the stage for a short squeeze. If Bitcoin manages to break through the nearby resistance, those trapped short positions could be unwound rapidly, possibly driving the price closer to $70,000. However, if the breakout fails to materialize, liquidation pressure might lessen, keeping BTC firmly anchored.

Liquidation Heatmap Shows High Liquidity Cluster Above $70,000

Coinglass’ liquidation heatmap illustrates a dense liquidity band between $70,000 and $72,000, signaling a high concentration of leveraged positions above the current market price. In the crypto arena, liquidity tends to act like a magnet, often drawing prices toward these heavily leveraged zones.

In comparison, the liquidity pocket situated around $65,000 appears relatively sparse. Should Bitcoin stay within the $67,000 to $68,000 support range, this could subtly favor upward movement. A strong rally might trigger additional liquidations and enhance momentum, but if that support falters, it’s likely that BTC would first clear out the liquidity drop before attempting to regain its footing.

Will BTC Price Defend the $65,000 Support or Break Above $72,000?

The weekly chart is currently at a significant decision point following a sharp drop from recent peaks near $120,000. Prices have settled back around the key horizontal support of about $68,000. There’s another layer of support around $59,600, which would act as a major demand area if the current support fails.

Momentum indicators are suggesting some weakness. The RSI is creeping near the oversold mark at around 28, indicating bearish pressure, while the CMF remains in the negative territory, hinting at capital outflow. Declining trading volume further emphasizes the prevailing selling bias. If the $68,000 support holds, a bounce back could be in the cards, though a confirmed breakdown might open the door to prices testing the $60,000 level.

Bitcoin Price Levels to Watch This Week

Reviewing the three charts—weekly structure, short-term liquidation, and the liquidation heatmap—Bitcoin appears to be in a high-probability decision zone rather than just a random consolidation. The weekly chart shows BTC circling back to the $67,000-$68,000 support area, with the next significant demand zone hovering around $59,600-$60,000. Momentum indicators indicate sellers are still in control for the short term (RSI near oversold, CMF negative).

Nonetheless, liquidation data exposes considerable liquidity above $70,000 to $72,000. If bulls can hold the current support level, there’s room for upward movement.

If $67,000 holds: