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BITFARMS LTD/CANADABITFARMS LTD/CANADABITFARMS LTD/CANADA

BITFARMS LTD/CANADA

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BITF trade ideas

BITFARMS MORE PAIN TO COMEHi Folks Bitfarms has been really struggling for the last few months yes it has made some gains here and there but nothing compared to it's competitors such as Cleans park, Riot etc and has been overall bearish. Due to the recent FUD regarding the former CEO suing Bit farms for $28 million dollars the uncertainty is even higher for this miner. From my analysis we can see we are beneath a bullish order block, the stochastic RSI is down and may stay down a long time. The next area of interest is $1.10 or even lower yes I am telling you Bit farms may fall under a dollar which may be a great buying opportunity. Expect more to the downside for this stock before any upside
NASDAQ:BITF
by bacurrie45
5
BITFARMS LTD inverse head and shoulders patternBITFARMS LTD (BITF) has, like the cryptocurrency market in general, experienced a bear market in recent years. However, with the halving approaching, things are looking brighter for Bitfarms. From May 2022 to December 2023, the stock has formed an inverse head and shoulders pattern, suggesting that buyers have the upper hand while sellers have lost momentum. This is evident in the October 2023 chart, where sellers failed to establish a new bottom. Instead, buyers took control and broke through the resistance (area of value) on December 8, 2023. After a pullback, a new opportunity has now arisen. I went long yesterday when the stock formed a hammer candlestick in the area of value. The stop-loss is set below the area of value and the trendline at 8.25%, while the price target is set at the resistance of 78.33% . The risk-to-reward ratio is 9.5. What are your thoughts on the future of BITF?
NASDAQ:BITFLong
by renasjalal
BITFARM a penny cryptominer LONG CONTINUATIONOn the 15 minute chart BITF did 25% this week as Bitcoin climbed over 45,000. It is running hard with lots of its peers. IF BTCUSD trades up all weekend there will be continuation. The best options which closed Friday afternoon did 5X overnight, some of the peer's had 5-13X. The RSI indicator and ZL MACD are supportive. the Stochastic adjusted to a period of 14 x4=56 is getting overbought. All depends on BTCUSD ( and ETHUSD) as stablecoin high market caps over the weekend. My options are open and rolled into the following Friday.
NASDAQ:BITFLong
by AwesomeAvani
BITF: Looks Pretty NiceI dont know much about this miner, so I cant quite speak about anything more than what im seeing on the charts. But from what I see here reminds me of MARA where it is finding some support at the upper value area of the previous range. You also have the 100 Day moving average right below, as well as the previous range point of control. This range is between $1.20 and $1.50 which shows me some strong confluence. I wouldn't mind picking up this stock at those levels.
NASDAQ:BITFLong
by afurs1
Bitfarms (BITF) Retest of ResistanceBItfarms is another Bitcoin miner that is having huge volume surge and broke through previous resistance. It tested support yesterday and I would trail my stop just below 2.13. BItfarms have invested heavily into newer machines to tackle Bitcoin halving and they are expanding into Paraguay. The location is well thought out as Paraguay has better governance when it comes to South America. Momentum is on the rise, I am bullish on Bitcoin. This stock does have the potential to do multiples from here. It's relative strength in the sector.
NASDAQ:BITFLong
by Kemsdale
Bitfarms Secures C$60 Million in Funding to Bolster OperationsBitfarms secures C$60M investment from U.S. investors, fueling cryptocurrency mining expansion and growth. Bitfarms, a Canadian Bitcoin mining company, has secured a substantial investment of C$60 million. This influx of capital comes from U.S. institutional investors, marking a significant boost for the company’s operations. The funds are earmarked for strategic enhancements, including acquiring additional cryptocurrency miners, expanding infrastructure, and strengthening the company’s working capital. In a strategic move, Bitfarms will issue 44,444,446 common shares, each priced at C$1.35. This issuance also includes warrants for purchasing up to 22,222,223 common shares. Investors can exercise these warrants at C$1.61 (US$1.17) per share over the next three years. This decision is a calculated step towards capitalizing on the company’s current market position and is expected to be concluded by this upcoming Tuesday. Cryptocurrency Resurgence and Bitfarms’ Trajectory This financial milestone aligns with a notable resurgence in the cryptocurrency space. Recent events, such as the arrest and subsequent guilty verdict of Sam Bankman-Fried, the former head of FTX, for misappropriating billions in customer funds, have significantly impacted the market. Despite some delays, the growing anticipation surrounding the U.S. Securities and Exchange Commission’s (SEC) approval of the country’s first spot Bitcoin ETF signals a wave of potentially massive new investments in the sector. The U.S. government’s US$4 billion settlement with the Binance cryptocurrency exchange has also made headlines in another significant development. The exchange’s founder, Changpeng “CZ” Zhao, stepped down as CEO following his guilty plea to charges of anti-money laundering and sanctions violations. Collectively, these events have contributed to fostering greater trust in the crypto space, propelling significant gains in cryptocurrencies like Bitcoin and Ethereum and attracting a diverse range of investors. Bitfarms’ Growth and Market Performance Founded in 2017, Bitfarms has established itself as a global leader in Bitcoin mining. The company prides itself on vertically integrated mining farms and proprietary data analytics systems. With eleven operational farms spread across Canada, the United States, Paraguay, and Argentina, Bitfarms continues expanding its cryptocurrency mining footprint. Bitfarms’ stock (NDAQ, TSX: BITF) recently traded at C$1.58 per share, reflecting an 83.72 percent year-over-year increase. Though trailing Bitcoin’s 133.28 percent return, this performance significantly outpaces the S&P/TSX Composite Index’s -1.12 percent return over the same period.
NASDAQ:BITFLong
by DEXWireNews