As Bitcoin (BTC) technicals signal a potential bear market bottom, pseudonymous crypto analyst Crypto Patel, who publishes technical analysis to a large social media following, expects Bitcoin to reach $116,000 by late November 2026.
Crypto Patel said that Bitcoin price is on the verge of rallying more than 76% over the next 124 days, based on his analysis that Finbold verified on July 22.
BTC weekly chart. Source: TradingView
As Bitcoin price rebounded from a crucial monthly support level around $58,577, this crypto analyst highlighted that BTC could be forming a similar bullish reversal pattern to the 2022 crypto bear market. Specifically, this analyst argued that BTC price has been forming a strong weekly bullish divergence, which was last seen in November 2022.
The weekly divergence is characterized by a rising relative strength index (RSI) while BTC price forms lower lows. After the 2022 crypto bear market bottom, it took 154 days to rally over 101% to the next majo
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