As Bitcoin (BTC) technicals signal a potential bear market bottom, Crypto Patel anticipates the flagship coin to reach $116,000 before November 2026.
The crypto analyst said that Bitcoin price is on the verge of rallying more than 100% over the next 150 days, based on his analysis that Finbold verified on July 22.
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 the 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 major resistance.
As such, if history rhymes, Crypto Patel pointed out that Bitcoin price could rally over 100% to $116,000 by November 23, 2026. However, the analyst mapped key resistances around $82,749 and $97,693, before rallying towards the all-time high (ATH).
“If history rhymes, Bitcoin could be on track for $116K before November 2026,” Crypto Patel noted.
Bitcoin price rebound backed by strong fundamentals
A potential Bitcoin price rally towards its ATH over the coming months is bolstered by robust fundamentals. For instance, the clear regulatory framework in major jurisdictions – including in Japan, Russia, Europe, and the United States with the Clarity Act news – has contributed to the Bitcoin whale activity surge.
During the past three weeks, the United States spot BTC ETFs (Exchange-Traded Funds) have registered a net cash inflow of approximately $703.13, holding total net assets worth roughly $80.94 billion at press time, as per metrics from SoSoValue.
As Bitcoin whales accumulate BTC, the $116,000 target by November 2026 could be achieved, and vice versa.
