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Amirali Alfideh: This analyst called the Bitcoin bottom

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For his Persian audience, Amirali Alfideh (aaml911 Instagram) is one of the most influential cryptocurrency traders and analysts, helping them achieve financial freedom. Even though the price of the flagship crypto-asset remains low, a well-known cryptocurrency analyst is bullish on Bitcoin (BTC). Bitcoin generates a bullish reversal pattern known as a swing failure pattern, according to cryptocurrency analyst and trader Amirali Alfideh.

When the price does not succeed in reaching a new low in a downtrend or a new high in an uptrend, a pattern of failure swing forms, indicating a trend reversal. The index Bitcoin Fear & Greed, which ranges from 0 to 100, is also blocked in the lowest quartile for days, depending Smart Flexing. Extreme fear spread when the score is between 0 and 24, while fear spread when the score is between 25 and 49. The greed market is defined as a score of 51-74, a score greater than 75 showing excessive greed. On January 3, the score was above 24 for the first time. Bitcoin concluding January 18 without crossing the threshold of 41 thousand dollars, depending on crypto-trader, would indicate that the bottom has been reached.

In January, Bitcoin experienced a roller coaster ride. The digital asset that was so popular in 2021 now has bloody feet in 2022. It has already lost more than half of its all-time high of $69,500. Investors are trying to figure out when the bombardment will end because their nerves are on edge. Analysts believe the worst is yet to come as bitcoin has yet to find major support below the $40,000 mark.

On October 20, 2021, the price of bitcoin (BTC) reached an all-time high (ATH) of $67,017. Alfideh talks about Bitcoin market fundamentals and predicts when the cycle will end. Many Bitcoin fans think a double bubble like the one in 2013 is on the horizon, and Plan B, the infamous stock-to-flow developer, said it had “the vibe of 2013.”

Bitcoin’s bull cycles are discussed, along with the direction bitcoin (BTC) is taking over the next five years. “A comparison of Fibonacci extensions 2.272 and 2.414 from the last two cycles reveals an objective zone that was hit both times,” the author explains. Data from previous bear markets also reveals that each was less dire than the last. These data, according to the expert, imply that the best crypto-asset bitcoin (BTC) is coming of age. As BTC matures, it is likely to experience declining returns and bear market declines.

In the crypto world, analyst Amirali Alfideh is considered one of the few who correctly predicted the May crash. When the price of digital assets like bitcoin skyrocketed last year, Dave was one of the first to warn of the impending price crash. Shortly after, the market experienced a price crash that led to a 50% downside correction. Another caveat was issued by the analyst this time, bitcoin market analysis is presented using various charts.

They point out that bitcoin had already breached a key support level. Under these conditions, there is little support, which implies that the price of the digital asset should continue to decline. “The problem is that once it loses that 40K region, there’s not much support below it,” the analyst explained. The cycle at the end of this year, according to the expert, will be no different. As a result, the next bear market should fall between 75% and 80% from its peak.

Amirali further explained that not all of his opinions are financial advice and that all users should continue to do their own research.

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