Bitcoin broke below the $78,258 level on March 10 and fell to $76,606 on March 11, but the bears could not sustain the lower levels. This suggests solid buying by the bulls.
The relief rally is facing selling near the 20-day exponential moving average ($87,262), but a minor positive in favor of the bulls is that the relative strength index (RSI) is showing a positive divergence. Buyers will have to drive the price above the 20-day EMA to suggest that the correction could be ending. The BTC/USDT pair may then ascend to the 50-day simple moving average ($94,654).
On the downside, the bulls are expected to defend the $73,777 level with all their might because a break below it may sink the pair to $67,000.