Nope. Lightning Bolt and Gear is not resetting. It happens when you hold Volume Up during boot. It is flashing mode.
Hold the Power button until the phone vibrates > release Power and hold Volume Down > keep holding Volume Down until you see the exclamation (
!) screen, then immediately release the Volume Down
Now tap Volume Up / Volume Down / Power / Volume Down
You should see the spinning gears and your phone will reflash the last OS version held in recovery. You do loose data, but get your phone back. Sign into your Microsoft Account and restore your backup during the set up.
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