Bitcoin Holds Above $105,000 as Traders Eye $130,000 Target

Bitcoin [BTC] has been maintaining a strong position above $105,000, with traders anticipating a potential surge toward a new all-time high around $130,000 in the coming quarter. The current data indicates that Bitcoin is trading at a premium compared to the average cost basis for holders, suggesting a bullish sentiment in the market. The 24-hour liquidation map highlights significant leverage clustering near current levels, signaling potential price swings ahead.

High volatility zones are playing a crucial role in determining Bitcoin’s next move. The latest liquidation heatmap shows concentrated liquidity above $108,800 and below $107,100. These zones act as pressure points where traders expect sharp liquidations if price momentum breaks in either direction. A decisive close above $108,800 could unleash a liquidation cascade on short positions, driving Bitcoin into fresh price discovery and fueling a possible push toward $110,000 and beyond. Conversely, if BTC drops below $107,100, it may trigger liquidations of long positions, adding extra downside pressure.

In a sign of the high-stakes leverage battle playing out, Aguila Trades re-entered the market with a 20x leveraged short position, following BTC’s slip under $108,000. This move suggests that Aguila is counting on the price to extend lower if bearish momentum holds. However, should Bitcoin break above $108,800, Aguila’s short position could face rapid liquidation, flipping pressure back onto bears. If BTC fails to hold that level and slides under $107,100, the setup could pay off for Aguila, reinforcing the short bias and deepening any correction.

Market watchers are closely monitoring Bitcoin’s weekly close as the next big signal. A strong close above $110,000 could act as a springboard toward the Fibonacci extension target at $135,500. This echoes BTC’s breakout in Q4 2024, when a sustained move above $75,000 triggered a powerful rally. If this staircase pattern repeats, a confirmed close above $107,720 could clear the path first to $110,000, then to the much-anticipated $130,000 mark.

However, risks remain if key levels fail. If Bitcoin struggles to maintain momentum above $108,000, traders warn of a possible pullback to the $92,000–$95,000 support range. Despite repeated bullish breakouts and retests, a failure to secure a decisive weekly close above $107,000 could stall the rally and trap BTC in an extended sideways phase, slowing its run toward a new all-time high.

For now, leveraged liquidity pockets and heavy speculation are setting the stage for Bitcoin’s next big move. Traders should closely track these critical zones as BTC’s Q3 direction hangs in the balance. The technical analysis supports this optimistic outlook, with Bitcoin trading within an ascending channel and maintaining its position above both the 50-day and 200-day moving averages. These levels have provided dynamic support throughout June, reinforcing the bullish structure. Fibonacci extension levels further indicate clear upside targets, with the 1.618 level at $119,150 and the 2.618 extension projecting $130,990, aligning with GalaxyTrading’s $130K cycle thesis. The breakout measured move suggests an 18% upside potential from current levels if the momentum continues.

The Stochastic RSI hovering near 99 signals strong bullish pressure but also hints at short-term exhaustion. Immediate support remains around $105,910, followed by $99,993. A daily close above $111,833—the 1.0 Fibonacci mark—would confirm the continuation of the breakout. The broader bullish outlook remains intact, with long-term targets ranging from $130,000 to $180,000. GalaxyTrading noted that Bitcoin’s cycle target has always been around $130K, with a more extended move potentially seeing BTC aim for $170K–$180K at the peak. This view is echoed across the trading community, with several accounts pointing to the strength in the current trend structure. The golden cross on the Moving Average Convergence/Divergence (MACD) indicator adds to the optimism, with BitBull describing the MACD cross as a strong signal that “bulls are in control.”

The upcoming weekly and monthly candle closes have taken center stage. Analyst Rekt Capital noted that Bitcoin was poised to make history if it closed above the final major weekly resistance. The current record for Bitcoin’s highest weekly close stands just above $109,000. A monthly close above $104,630 would also mark an all-time record, with short-term price action hovering around both levels. Earlier in the week, Rekt Capital suggested that a monthly close above $102,400 would confirm a range breakout. With the price currently above $108,000, that threshold appears well within reach.

Analyst Killa pointed to Bitcoin’s ongoing test of the “local weekly high,” cautioning that failure to reclaim the range could mark a swing failure pattern (SFP). Price acceptance above this level would likely target the CME gap at $107,100, already swept at press time. Killa warned that any rejection could send BTC back toward previous weekly opens at $105,000, while sweeping liquidity below would remain a risk if the market structure fails to hold. Killa also flagged two scenarios post-monthly close. In one, BTC sweeps the monthly all-time high at $112K before retracing in early July. In another, BTC forms a record close and trends higher into a wick extension toward $112K. The presence of heavy liquidation zones between $110K and $114K on derivatives platforms underpins both paths. Traders continue to track those zones for clues on where short-term volatility may erupt.

Rekt Capital and Killa both flagged the possibility of retracements following record candle closes, a pattern seen in past cycles. The coming days may test whether Bitcoin can sustain above $104K–$109K or fall into a corrective phase. James Wynn’s shift from short to long injected momentum, but broader macro signals remain mixed. Weekend volume has distorted recent price action, and Monday’s market open will likely bring higher liquidity and stronger directional cues. Still, the consensus across traders appears to favor further upside if the current trend structure holds. All eyes now shift to how BTC behaves above $108,000, with bulls aiming for new all-time highs, and bears watching for signs of exhaustion.