A $40.459K short liquidation at $68,112.6 on $BTC shows bearish traders getting squeezed as price pushed higher. I see this correction as healthy because liquidations clear over-leveraged shorts and allow the market to rebuild structure before the next move. When shorts are forced to close, it often adds fuel to upward momentum.
Right now I’m watching the $67,500–$68,200 zone. This area previously acted as support and also sits near a recent retracement level where price reacted before. I’m watching this level closely because buyers have defended it in the past. If this level holds, they’re building strength for another leg up.
Trade Setup I’m Watching
Entry Zone: $67,500 – $68,200
Target 1: $70,200
Target 2: $72,000
Stop Loss: $65,900
If this support stays intact, Bitcoin could continue stabilizing and prepare for another push higher.