Bitcoin (BTC) has achieved an astonishing rebound of over 10% in just four days and is about to break through a key resistance level?

Gate news, FXStreet analyst Zorrays Junaid stated that Bitcoin achieved an astonishing rebound of over 10% within just 4 days after briefly falling to the $98,000 region. Furthermore, on a higher time frame, it has also formed a clear bullish flag pattern - a sign and reason for the continuation of the bullish trend.

"So, will everything go smoothly from here on? Of course, it can," Junaid pointed out.

He stated that the fundamentals are preparing for an economic rise - the war tensions are gradually easing (although this tension may become unstable due to the development of unexpected events), and the United States will cut interest rates in September.

"If we really break through $109,000, Bitcoin could set another historical high—this could actually be the last rise before breaking the peak."

The main resistance level for Bitcoin breakthrough: 109,097.40 USD

Drawing a bullish flag connecting the highs and lows from May to June, Bitcoin seems to be only one percentage point (1%) away from testing the upward trend line at approximately $108,800.

This resistance level is very important as it aligns with two major technical levels:

· The value area high point ranges from the swing high to the swing low (111980 to 98200 USD) — 108831.30 USD;

· 78.60% Fibonacci resistance level with the same volatility — $109097.40.

(Source: FXStreet, Trading View)

"There are two scenarios to consider here, but keep in mind that these are simplified overviews, and new catalysts may emerge in terms of news."

Scenario 1: Bullish Breakout

For cryptocurrency enthusiasts, the ideal scenario is for Bitcoin to strongly break through this level, surpassing $109,000, and then possibly provide a re-entry opportunity upon retesting.

This means that despite significant resistance and potential bearish divergence (volume and RSI), buyers are so bullish that the bearish scenario is invalid.

So it is very likely that we will start chasing Bitcoin's historical high from now on.

Scenario Two: Merge

Another situation to note is that the price may fall below the $109,000 area and then possibly pause around $105,000.

Support and resistance are signs that the upward momentum is weakening—trading volume is decreasing, and the RSI may be forming a bearish divergence.

The $104,720 to $105,000 area is a previous consolidation zone, so a rebound may occur. The edges of this area and its control point at $104,728.70 provide potential reversal opportunities if a bullish candlestick appears.

If this range cannot be maintained, the price may fall to $103,000.