Bitcoin holds above the 200-week MA as traders watch $65K, $68K and $70K liquidity zones after an upside squeeze.
Bitcoin opened the week with upward pressure after closing above the 200-week moving average again.
The move kept traders focused on whether BTC can return toward the $68,000 range.
The latest setup also reduced focus on deeper calls near $40,000. Some analysts now argue that current price action does not support that sharp move.
At the same time, Bitcoin started the week by squeezing short positions higher. Traders are now watching whether the move can extend into stronger resistance.
The $68,000 to $70,000 area remains the main zone in focus. That region holds heavy liquidity and could bring stronger volatility if price moves higher.
Bitcoin Holds Above the 200-Week Moving Average
Bitcoin’s weekly close above the 200-week moving average kept long-term support in focus.
Traders often watch this level during major corrections and recovery attempts. A continued hold above it can support a stronger market structure.
Another week, another close above the 200-Week MA for #Bitcoin.
Strong signals.
If this week can continue moving towards the $68K area and we're back in the range, I assume we still have a strong altcoin summer.
A lot of people are waiting for Bitcoin to reach $40K, but with… pic.twitter.com/ht4dvGgsQ4
— Michaël van de Poppe (@CryptoMichNL) June 22, 2026
The close also came as many traders waited for a deeper drop. Some market watchers had expected Bitcoin to revisit the $40,000 range.
However, the current rebound has weakened that short-term view. Bitcoin now needs follow-through toward the $68,000 area.
A move back into that range could improve market confidence. It could also support stronger interest across altcoins.
Short Squeeze Pushes BTC Toward Resistance
Bitcoin began the week with a move higher as shorts faced pressure. The upside squeeze followed several sessions of cautious positioning.
As a result, traders are now watching nearby resistance zones. The first area in focus sits between $65,000 and $66,000.
Some traders may look for short entries if price reaches that zone. However, buyers could use the same area as a step toward $68,000.
$BTC starts the week with a squeeze to the upside.
Like mentioned yesterday, it seems like Bitcoin wants to squeeze more shorts towards the upside.
There are two main POI's I'm monitoring to add short positions.
The first one is if we get a push into the 65K/66K region,… pic.twitter.com/lfp4fkMDaw
— Lennaert Snyder (@LennaertSnyder) June 22, 2026
The bigger liquidity zone sits between $68,000 and $70,000. Liquidity often attracts price when many orders sit in one area. Therefore, this range may become more active if Bitcoin keeps rising.
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Michael Saylor Stays Bullish as Bitcoin Capitulation Remains Elusive
Funding Rates Raise Volatility Watch
Funding rates have turned strongly positive across several exchanges. This shows that long positions have become more expensive to hold.
It also suggests bullish positioning has increased in the short term. However, crowded long trades can create pullback risk.
If price stalls near resistance, traders may reduce exposure quickly. That could increase short-term volatility during active market hours.
Bitcoin is currently trading near the middle of its wider range. Some traders are avoiding stronger long entries at current levels. For now, the main levels remain $65,000, $68,000, and $70,000.
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