BITF LongHaving BITCOIN over $50K pushes the BITFARM to $7.30. RSI is oversold hourly. Elliot Signals are looking very promising in here.
BITF trade ideas
$BITFNo explanation necessary look at the details on the chart. Use the information at your own discretion. THIS IS NOT FINANCIAL ADVICE.
BITF BITFARMS (INVERSE H&S PATTERN)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. The company was founded on October 11 2018 and is headquartered in Toronto Canada.
Bitfarms Reports 38% Jump in Q3 Bitcoin Production From Q2; Shares Climb 16% as Digital Currencies Rally
Canadian bitcoin mining company, on Friday reported production of 1,050 bitcoin in Q3, up 38% from the previous quarter.
The company said it mined 305 bitcoin last month and 2,407 bitcoin since the beginning of the year.
Bitfarms said it deposited 2,312 bitcoin, 96% of output, into custody through the end of September, with a total value of $100 million based on a bitcoin price of $43,500.
The company said it is regularly boosting its hashrate towards its goals of 3 exahash per second in Q1 and 8 exahash per second by the end of next year.
Bitfarms' Nasdaq-listed shares climbed nearly 19% in intraday trading on Friday, and were last up more than 16% as bitcoin's price surged nearly 9% to $47,7209.
Bitfarms Bullish TrendBITF formed AB=CD shape and rebounced from target at $4.3 and achieved Target 1 at $5.5.
If it breaks target 1 then next target would be $6.3.
BitFarms Long TermBitFarms is a Bitcoin mining company that IPO on the Nasdaq this past year. They have 5 different plants all located in Canada. One thing to note is their use of clean energy, which has been a heavy conversation for quite some time. For comparison RIOT and MARA were around this sub 10$ range about a year ago. Now both trade around 30-40 with highs near the 60s. Long-term potential for growth in comparison to their costs creates massive potential for consistent profit. One metric to note is their cost per BTC mined is $9,000 and it's currently valued at over $45,000.
BITF has likely reached bottom. Long target 15.The Bitcoin mining business is in a great position as investments have paid off and now that BTC is on the move for the final rush of the 4 year halving cycle the profitability of these mining firms will be solidified. Very few newer faster miners available because of the Chinese crackdown and semiconductor shortages. Very hard to find mining equipment. These mining machines with BTC above 50k pay off in 9 months, above $80k 5 months. If BTC hits $150k HUT 8 and BITF are money printing machines. But be careful to be out of your big positions by March. Track BTC price and you will know when to scale up and scale out. Unless they have a shelf offering sitting out there and run one like Hut 8 did it should be a fairly quick run up over the next one or two quarters. Up 16% yesterday the call options placed the day before were handsomely rewarded, but the IV will eat you alive so get in and get out unless you are selling options and even then try to do it on consolidation weeks. To be safe you could wait until she clears the Ichimoku cloud on the 4 hour timeframe.
BITFBITF long broke out 5.9 resistances and retested and broke looking for 10$ mined more than $MARA and $RIOT
BITF LongBITF broke of 5.9 Resistance retested and broke out again looking for Triple top clearance to enter the long position
BitFarms Bullish Continuation PatternBull flag pattern in an ascending channel with indicators pointing higher tells me that a move to $15-20 is possible this year
BITF bullish flag. BITF has been on my radar for a few weeks now and have been waiting for a good entry point. With SPRT and BTBT breaking out i believe BITF will follow as well. Daily chart shows a bullish flag playing out, and if you take a look at the candlesticks you can see how it is trading within the flag. Volume seems to go down as well, while the MACD is closing red getting ready to go green. RSI is steady and look at how the price is above all 3 sma lines. Price target for me is 10 dollars and wouldn't be surprised if it goes higher.
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 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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You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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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.
