Bitcoin price analysis
Bitcoin rebounded off the $85,000 level on March 7, signaling that the bulls are trying to form a higher low.
A break and close above the 20-day exponential moving average ($90,977) will be the first sign that the bulls are back in the game. The BTC/USDT pair could then rise to the 50-day simple moving average ($96,861). Sellers are expected to fiercely defend the zone between the 50-day SMA and $100,000, but if the bulls prevail, the pair could surge toward $109,588.
The bears will gain the upper hand if they sink and maintain the price below $85,000. If that happens, the pair could nosedive to $78,258 and, after that, to $73,777.
