Apple Watch Pairing

I recently got a replacement for an iPhone 11 and had unpaired my series 5 from the old phone. The watch was backed up on iCloud. I set up the replacement, and the apple watch wont connect through the app as it said it was still connected to the old phone. I no longer have the old phone so I removed it through the settings on the watch, but it still doesn't let me pair it to the new one. The watch does appear on my phone settings, and the phone on my watch settings, but not on any bluetooth for either. Did I do something wrong perhaps? Should I reset the watch, and if so, what data will be lost? Thanks!