BITF "BITCOIN CORRECTION" potential bear exhaustion levelsAbsolutely possible BITF prices if bitcoin prices fall. If this offends you might have confirmation bias this is not meant to offend. :)
BITF trade ideas
BITF Longgot fucked up with the first long so i am gonna try it again...
hopefully it doesn't break down that blue line and hope this bullrun of the crypto continues without some stupid news of the feds, and the mixer getting convicted.
BITF Long Positionif bitcoin rally continues, this stocks will have a drastic increase in price since it controls 1 percent of bitcoin mining with a sustainable energy. if this company's true intent is really true, then it should play out very good. better than some alcoins for sure.
BITF at Strong SupportBITF should expect very strong support at $6.27 range.
This is a Major trend fib (0.618) and highs from previous peaks.
If this fails more downside will occur. S/L below this level to protect gains.
$BITF Bitfarms Ltd., a blockchain infrastructure company, mines for cryptocurrency coins and tokens in North America. The company owns and operates server farms comprising computers that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. It also provides electrician services to commercial and residential customers in Quebec, Canada. It also provides hosting of third-party mining hardware. The company was founded in 2017 and is headquartered in Toronto, Canada.
$24.42 BITF?BIT FARMS now trading at $7 and still anticipating a sell off wick to $5 or lower before the move above $10 and break ATH! I have this finishing on a 4.236 Fibonacci extension getting us close to $25, holding till $55 personally. RIOT and MARA ($37/35) are similar BTC mining companies to compare stock price with. Bit Farms is located in Canada and uses hydro electric power to keep the mining facility cool and eco friendly electricity. BITF earning coming up August 16th.
BFARF (BARF) BOYS!!!🤮🤮🤮
$BITF is gonna fall todayPupm&Dump trading strategy idea.
$BITF is rising too much today.
The demand for shares of the company looks lower than the supply.
This and other conditions can cause a fall in the share price today.
So I opened a short position from $7,47;
stop-loss — $8,20;
take-profit — $6,02.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
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BITF - Undervalued to peers, based on BTC minedBitfarms Ltd. is a canadian bitcoin mining company. Resistance at $6.45, as that is highest close and tested that level twice already. The chart basically follows bitcoin, so I am going to write about bitcoin mined compared to RIOT and MARA. BTC mined for BITF in may 2021 = 262, RIOT = 227, MARA = 227. June 2021 = 265, RIOT = 243, MARA = 266. MC of BITF is 5x less than MARA and RIOT. Earnings is Aug 16th, so if there's a pullback . It would be good time for entry.
BITF Trafic Hour...AgainBITF has gained some ground thanks to the interest and attention on crypto prices this year. After doing a fib retracement using last December's low as an anchor, some interesting areas have been revealed. First, the 50 Fib is a clear area of high traffic. While BITF has managed to trade at these levels, it hasn't had the best time holding above it for extended periods. Furthermore, the next level which is the 382 fib line appears to be an interesting level of resistance as BITF has broken to and above it just 3 times previous and had been denied all 3 times. Considering this "crypto weekend" bitcoin stocks could be first on the watch list on Monday. HOWEVER... follow-through on the cryptos themselves will be an important factor when it comes to the overall follow-through on the related stocks. Watch for any signs of premarket breakouts...sure...BUT once the market opens, THAT'S likely going to be the determining factor as to the general direction of stocks like BITF for the day/week in my opinion.
" Bitfarms announced its production update and that it will be reporting its Q2 2021 financial results on August 16th. In the production results, the company stated that in July it mined 391 new Bitcoin, which set a record for the year. At this rate, it is mining around 12-13 BTC per day. In addition, it deposited almost $70 million in Bitcoin through August 1st. 'We are proud to have added 96% of our 2021 year-to-date Bitcoin mined to our long-term inventory program. As we work to execute on our growth targets, we anticipate adding more Bitcoins to our balance sheet at a faster rate than we have in the first half of 2021.' CEO and Founder of Bitfarms, Emiliano Grodzki. One of the aspects that separates Bitfarms from others is its commitment to renewable energy. Because energy consumption is one of the largest issues with Bitcoin mining, the company states that it uses 99% green hydroelectricity. This is big news and something that other companies are working on as well. So if you’re looking for an interesting pure-play crypto penny stock, BITF stock could be worth keeping an eye on. "
Quote Source & Read More: Blockchain Penny Stocks Are Heating Up, 3 Names to Know
Bitfarms Starting to Run AgainBitfarms is up over 1300% for the year and looks like it is starting to run again with Bitcoins recovery.
From the company description, Bitfarms Ltd. owns and operates blockchain farms that power the global decentralized financial economy. It provides computing power to crypto currency networks such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash, earning fees from each network for securing and processing transactions.
Worth a look.
BITF to push ATHs?Bit Farms now breaking out of the wick lines created from the previous wick ups. we just broke the 3rd one, finding support here around $5-6 would be huge. Now listed on NASDAQ and eventually will be comparable in price to MARA and RIOT.
BITF Wicks out 2 cents higher than my mark!$6.11! as you can see in my green projected EW we hit $6.09 and today we wicked out to $6.11, pretty impressed with myself to be honest! more to come. Holding my position to $50+ BFARF BOYS 🤮🤮🤮
BITF triangleBitfarms is at the top of a run and found resistance from the descending trend line.
Friday is normally when profits are taken from bitcoin miners to end the week.
Once that triangle is clear, Bitfarms will have room to pump.
BITF Daily OutlookBit Farms has found support at $3 then on 7/26/21 I noted that BITF was at $4 and the next Fib Zone up was $5.15 and it wicked out to $5.47 8/5/21, if we can stay closer to $5 and wick out to nothing lower than $4.80 for a deeper correction then the next impulse wave up is breaking $6.
BFARF (BARF) BOYS!!!🤮🤮🤮
lets see how this plays out. still teaching my self Elliot Waves...
