Bitcoin to $130K? – BTC traders, watch THESE levels next

Key Points

1. Bitcoin maintained above $105K despite the Distribution by Realized Supply metric indicating it was expensive relative to historical holder investments.

2. Key liquidity levels are at $108.8K (resistance) and $107.1K (support), with a close above $108.8K potentially triggering a short squeeze and a new ATH, while a drop below $107.1K could lead to long liquidations.

3. Aguila Trades took a 20x leveraged short position after Bitcoin dipped below $108K, which could be at risk if BTC surges past $108.8K or profitable if it drops below $107.1K.

4. A weekly close above $110K could target $135,500 (Fibonacci extension level), while failure to break $108K might result in a retest of the $92,000–$95,000 range.

5. Historical patterns suggest a potential rally in Q3 2024 if Bitcoin closes decisively above $107,720, with targets at $110K and possibly $130K.