An analyst pointed out strong support for BTC on the 4-hour chart, suggesting potential stable ground for price movements. In contrast, another analyst advised followers to consider accumulating altcoins or meme coins.

Additionally, BTC's daily chart displayed a bullish signal with the 50 EMA crossing above the 200 EMA, indicating a possible uptrend towards $75,000.

Crypto analyst Ali Martinez highlighted Bitcoin's solid support on the 4-hour chart, potentially preventing further decline. Martinez mentioned the significance of this support leading to a rebound from recent lows. However, Martinez cautioned about the consequences if the 200 EMA is not surpassed.

On the other hand, another analyst, SlumDOGEMillionaire, discouraged heavy investment in Bitcoin, expressing doubts about its high returns in the current market cycle. The analyst recommended exploring alternative cryptocurrencies such as SOL and AVAX for potentially better returns and keeping an eye on meme coins like WIF, PEPE, and BRETT.

Bitcoin briefly exceeded $69,000 before a recent decline, trading at $66,887 at the article's time of writing.

Bitcoin has shown promise from a technical standpoint, notably with the 50 EMA crossing over the 200 EMA on the daily chart, indicating positive momentum.

However, caution was advised by analysts as Bitcoin's price could drop further to $57,105 if it falls below $63,279. On the other hand, maintaining momentum at higher levels could push the price towards $70,000 or potentially even surpass $75,000 in a bullish scenario.

Despite optimistic signals, traders are warned about potential volatility spikes affecting Bitcoin's price significantly, either driving it higher or leading to capitulation. Some analysts suggest that alternative cryptocurrencies like PEPE, WIF, and SOL might perform better compared to Bitcoin due to differences in market capitalization.

Disclaimer: This article serves for informational purposes only and should not be considered as legal, tax, investment, financial, or other types of advice.

BTC/USD Daily Chart (Source: TradingView)