A crypto analyst stated that Bitcoin is pressing against key resistance near its all-time high , signaling that a breakout into price discovery territory could be just around the corner. A weekly close above the level could trigger a fresh wave of upside, pushing BTC into uncharted ground where new highs are inevitable. Bitcoin Is One Candle Away From Price Discovery In an X post on July 4, CrypFlow stated that Bitcoin is showing impressive resilience and technical precision on the chart. After finding footing at the S1 support, BTC delivered a sharp bounce and successfully reclaimed the R/S flip zone around $104,400, a level that has now become a battleground for momentum. However, BTC ran into stiff resistance at around $109,000 level, which happens to mark the previous highest weekly close. The rejection was a clean technical retest of the $104,400 R/S flip zone, which is now new support, a textbook bullish sign. BTC is now pressing against its final resistance. If bulls can push through the $109,000 level with volume, it would clear the path for true price discovery, where historical resistance no longer exists and the upside becomes wide open. Another analyst, Trade4ddict, also shared that Bitcoin is shaping up for another bullish opportunity, with the 1-hour chart printing a long setup. After dipping into the $108,500 liquidity zone, BTC quickly reversed, trapping late shorts and confirming a morning star pattern, and a bullish reversal signal. This shift in structure suggests that bulls are reasserting control, with support reclaimed and momentum turning upward. Trade4ddict expects BTC to revisit the local top at $110,500 and possibly break above it. If BTC breaks out successfully, it could open the door for a continued move toward a new all-time high region at $112,000. The structure is clean, momentum is resetting, and the market looks primed for a renewed push higher. Will The Inverted Head-And-Shoulders Fuel The Breakout? Abdul Basit Flow 3 Solix also took to X on July 4th to highlight that Bitcoin is showing signs of an explosive move as it retests a key local level on the 4-hour chart. After previously breaking through the $108,600 mirror level, BTC is now revisiting that zone from above, a retest that could confirm new support. The mirror level, which has acted as resistance, is being tested for strength, and the price is holding above it, suggesting bulls are defending this level with conviction. A bullish compression structure shaped as an inverted head-and-shoulders pattern is the formation that makes the retest more compelling. This formation often precedes a strong breakout, when backed by higher lows and tightening price action.
