Coin Edition -
- An analyst said BTC had formed solid support on the 4-hour chart.
- Another analyst encouraged his followers to stack more altcoins or meme coins.
- The 50 EMA crossed the 200 EMA on the BTC daily chart, suggesting a rise toward $75,000.
Crypto analyst Ali Martinez posted on X, saying that Bitcoin (BTC) had formidable support on the 4-hour chart that could prevent it from dropping. According to him, this support might ensure that the price rebounds from the recent lows.
However, he also mentioned that if BTC does not break through the 200 EMA, then the value of the coin might decrease.
The 200EMA on the #Bitcoin four-hour chart has been formidable support. Since early February, it has prevented #BTC from dropping further. For this reason, I'm paying close attention to this level because if it holds, it guarantees a rebound, but if it breaks as it did in… pic.twitter.com/cnfruT9wUJ— Ali (@ali_charts) April 2, 2024
However, another analyst with the handle SlumDOGEMillionaire told his followers not to put a lot of money into Bitcoin. According to him, the coin might not be able to produce high returns as it has done in previous cycles.
SlumDOGEMillionaire then added that altcoins like Solana (SOL), and Avalanche (AVAX) could provide greater returns. Besides these cryptocurrencies, the analyst also encouraged his followers to keep an eye on meme coins.
Some of the meme coins he mentioned include dogwifhat (WIF), Pepe (PEPE), and BRETT on Base. At press time, Bitcoin’s price was $66,887. But before the recent decline, the value climbed above $69,000.
I don’t know who needs to hear this but if you want to make some serious money this bull run do not buy #Bitcoin Seriously – you might 3X at best.If #BTC goes go $200K, that’s about as much as you’re going to get, best bull case scenario it goes to $250K