Bitcoin's price has faced headwinds, failing to reclaim the $90,000 level despite an earlier surge to $92,000. The cryptocurrency is now trading below this significant mark for the third time this week. However, emerging technical indicators suggest that a potential reversal might be forming following the substantial downturn experienced over the past few weeks. Analysts are closely monitoring for key confirmation signals that could support recovery targets as high as $116,000.
Momentum Divergence on the 4-Hour Chart
Market analyst Javon Marks has highlighted a regular bullish divergence on Bitcoin's 4-hour timeframe. This pattern is characterized by the asset continuing to print lower lows while its momentum oscillator simultaneously forms higher lows. Such a divergence is often interpreted as a signal of shifting market pressure from sellers to buyers.
$BTC continues to maintain a huge Regular Bull Divergence with momentum oscillators.
The data is suggesting a recovery $116,000+.
— JAVON⚡MARKS (@JavonTM1) November 19, 2025
At the time of reporting, Bitcoin is trading around $89,000, marking a 1% decrease on the day. Over the last seven days, the asset has seen a 13% decline. According to Marks, if this momentum trend holds, a rally could potentially extend beyond $116,000. However, the price must first break above critical short-term resistance levels to validate this setup.
Key Resistance at $93,100
Analyst Lennaert Snyder observed that Bitcoin found support at the $88,900 level and has since rebounded towards $93,100, which is currently being tested. This upward movement has so far encountered selling pressure. Snyder indicated a preference for a short bias unless the price can close decisively above $93,100. A break above this level, in his view, could pave the way for a push towards $95,600.
Snyder also outlined an alternative scenario: if Bitcoin revisits and sweeps the $88,900 lows and subsequently exhibits a strong rebound wick, this could serve as an indicator of a market bottom.
“I prefer a strong wick on the bottom and a reversal after,” he posted.
Market volatility may increase with the upcoming US Non-Farm Payrolls (NFP) data release. Furthermore, Titan of Crypto pointed out a recurring setup that bears resemblance to the 2021–2022 cycle. In both instances, a bearish divergence preceded a local top, followed by a hidden bullish divergence. This pattern is now re-emerging, with the price trading within a fair value gap and above rising trend support.
Another analyst, EGRAG Crypto, noted that Bitcoin is currently testing the 21-month Exponential Moving Average (EMA). He stated that BTC has historically not entered a bear market without closing a full monthly candle below this critical line.
“Hold 21 EMA = Bull Market Continues,” he stated.
Historically, this level has served as a springboard for upward price movements in past cycles.
On-Chain Loss Data Mirrors Past Patterns
Bitcoin's realized loss margin has declined to -16%. This metric, which tracks the average losses realized by sellers, has historically shown significant drops near market lows. In previous cycles, readings below -12% often coincided with the bottoming out of the market. The current -16% figure suggests that a substantial number of traders are exiting their positions at a loss.
Concurrently, Bitcoin's realized price is situated near $114,000. The divergence between the current market price and the realized price highlights the extent of unrealized losses within the network. If historical patterns are to repeat, this situation could provide a foundation for a recovery in the coming weeks. Broader macroeconomic trends, including rising yields in Japan and ongoing stress within US banks, are also contributing to the current caution in the market.