Bitcoin Reclaims $63,500 As Traders Watch For Squeeze Toward $67,000

Bitcoin’s recovery has given bulls something to work with again, but traders are still treating the move as a level-by-level test rather than a clean return to euphoria.

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• TradingView analyst kiv1n mapped a BTCUSDT long setup using liquidation levels, with an optimized target near $67,450.
• That Martini Guy said Bitcoin reclaiming $63,500 after a higher low near $62,400 makes it harder to stay aggressively bearish.
• The key level across the bullish case is whether BTC can hold the reclaimed $63,500 area.
• A failed hold would weaken the long setup quickly, especially after recent liquidation-driven volatility.

A TradingView idea from analyst kiv1n framed Bitcoin’s current setup through liquidation mapping rather than a simple support-and-resistance plan. The original setup used a $63,700 entry, $66,900 take-profit, and $62,400 stop-loss. After adjusting the plan around liquidity clusters, the analyst moved the entry to $63,450, raised the exit to $67,450, and tightened the stop to $62,800.

The reason for the adjustment was liquidity. The analyst argued that the original stop sat awkwardly between liquidation zones, while the revised stop sits below a localized cluster of long liquidations around $62,953. In that view, a break below $62,800 would suggest the market is not just dipping but likely flushing deeper.

The revised upside target was also more aggressive. Instead of exiting at $66,900, the analyst pointed to a larger liquidity magnet around $67,559 and set the target just below it at $67,450. The goal is to front-run the area where a short-squeeze cascade could begin to lose momentum.

The same level also appeared in commentary from That Martini Guy on X. He noted that Bitcoin was trading around $64,300 after reclaiming the $63,500 support zone, arguing that many traders had become too convinced the earlier breakdown was real.

His point was not that Bitcoin has already confirmed a major breakout. It was that BTC formed a higher low around $62,400, reclaimed the failed support area, and then started grinding higher. That is exactly the sequence bulls needed to see after sentiment flipped bearish.

In that view, the previous range high around $67,200 remains the next major level to watch. As long as $63,500 holds, the short-term structure is harder to dismiss.

The bullish case is not risk-free. A liquidation-map setup can fail quickly if the market sweeps the wrong side first, and a reclaim only matters if buyers defend it on the next pullback.

That makes the $62,800–$63,500 zone especially important. Hold above it, and the market can keep pressing toward the $67,000 region. Lose it, and the recent rebound starts to look like another failed recovery attempt.

For now, the bullish read is simple: Bitcoin has reclaimed a key level, short-side liquidity may be sitting higher, and traders are watching whether buyers can turn a relief bounce into a squeeze.

This article was written by the News Desk and edited by Samuel Rae.

This article is based on technical analysis shared on TradingView by kiv1n, available at at the source