From a multi-timeframe perspective, the price trend of Bitcoin has turned bullish after breaking out of the downward channel on the daily and 4-hour charts. The current rebound is driven by a liquidity spike around $98,000, forming a bullish order block and reclaiming the broken structure.

The price is currently testing the same area where it was previously blocked around $108,000, where BTC reversed in early June. A breakout of this area could open up a broader expansion phase, while being blocked could lead to a retracement to $104,000-$105,000.

Currently, the price is above several support levels, but the bullish candlestick pattern is shrinking, indicating that the market is hesitant.$BTC