Amirali Alfideh: This analyst called the Bitcoin bottom

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

When the price fails to achieve a new low in a downtrend or a new high in an uptrend, a swing failure pattern is formed, signifying a trend reversal. The Bitcoin Fear & Greed Index, which ranges from 0 to 100, has likewise been stuck in the bottom quartile for days, according to Smart Contracter. Extreme fear is prevalent when the score is between 0 and 24, whereas fear is prevalent when the score is between 25 and 49. Market greed is defined as a score of 51 to 74, with a score of above 75 indicating excessive greed. On January 3rd, the score was above 24 for the first time. Bitcoin concluding January 18th without breaching below $41,000, according to the 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 as their nerves are frayed. Analysts believe the worst is yet to come because bitcoin has yet to find major support below the $40,000 mark.

On October 20, 2021, the price of bitcoin (BTC) achieved an all-time high (ATH) of $67,017 Alfideh talks about the fundamentals of the Bitcoin market and predicts when the cycle will come to an end. Many Bitcoin fans believe a double bubble such as that of 2013 is on the horizon, and Plan B, the infamous stock-to-flow developer, said that he’s getting “2013 vibes.”

Bitcoin bull cycles are discussed, as well as where bitcoin (BTC) is headed in the next five years. “A comparison of the 2.272 and 2.414 Fibonacci extensions from the last two cycles reveals a goal area that was attained both times,” says the author. Data from previous down markets also reveals that each one was less terrible than the one before it. This data, according to the expert, implies that the top crypto asset bitcoin (BTC) is maturing. As BTC matures, it is likely to experience declining returns and bear market declines. 

In the crypto world, analyst Amirali Alfideh is regarded as being one of the few to correctly predict the May crash. When the price of digital assets like bitcoin skyrocketed last year, he was one of the first to warn of impending price collapse. Shortly after, the market had a price crash that resulted in a 50% downward correction. Another caution has been issued by the analyst this time analysis of the bitcoin market is laid out using various charts. 

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

Amirali further explained that all of his opinions are not financial advice and for all users to carry on doing their own research.

To Top

Pin It on Pinterest

Share This