Want to buy bitcoin? Better buy this ₿ mining company! Hi there, Yurii Domaranskyi here.
Risk vs Reward = 1 to 35.83 ✨
It means if you risk here 100$ you may make 3583$ Not bad, huh?
BITF trade ideas
BITF trying to break out, possible entry around $3.63BITF could be retesting the breakout right now and then rally higher. I'm keeping an eye on the orange line and the horizontal support at 3.63 as an ideal safer entry. Some other bullish looks are the curving hourly moving averages.
As a trade, I can see a tight stop under 3.63 depending on risk tolerance would make this an appealing trade. Just be careful to not get stop raided as it might find support on the bottom of the yellow wedge and reverse.
A bearish possibility is a H&S pattern is created and BITF tanks to the support around 3.20. Also the daily indicators are showing overbought conditions, however these can turn quickly in breakouts.
Now if it does continue to break out, keep an eye on this wedge as it could spell something bearish later on starting mid April. But if it breaks out of that wedge, I believe a strong rally will happen like in July and November.
nice rejection from resistance BITF rejected from extreme resistance for the 4th time, looking for a dip to 3.47-3.14-2.94
$BITFBITF has been getting acquired into a variety ETFs. BITF has a price target of $7.94 from various sources. When you look at the MACD there was a recently cross over, the low was around the $3 range. There is upward potential once BITF crosses over the resistance at $4.
BITF Looking For A Drop To $1.00 And A Great Entry PointTitle says it all this name will run with Bitcoin but also has options. Not advice
nasdaq bitfarms Ltd longBM Team:
nasdaq bitfarms Ltd
DV+ on RSI
DV+ on MACD
support zone
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TP1=4.7-4.8
sl=under 4$
Buy BITF 4/1/2022You can buy BITF target 7.12 stop loss 4.24
Money management your responsibility.
I recommend entering a maximum of 10% of the portfolio.
Good luck
Correlation of Bitfarms to BTC. (Divergence/Correlated)Here you can see that only one time in the chart history of Bitfarms has it diverted against the BTC chart. I take this to mean that they are heavily correlated, with BTC being the driving mechanic.
BITF potential break out of wedge + test of supportMight retest support again ($6.30-6.50 CAD roughly) before going higher, but MACD, Stoch and RSI all look bullish now too.
I see resistance at $8.00 CAD area with the daily Hull and Supertrend coming down on it.
BITF LongHaving BITCOIN over $50K pushes the BITFARM to $7.30. RSI is oversold hourly. Elliot Signals are looking very promising in here.
$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.
