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BITFARMS LTD

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BITF trade ideas

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
Bitfarms pullback before an attempt to go higher As BTC is pointing toward a pullback to the 21-20k area we can reasonably assume bitcoin mining stocks will also correct. NASDAQ:BITF is looking to go to the $.75-.60 support area before gearing up to go higher to $2, the next area of resistance. On the fundamental side the company is one of the stronger miners with one of the highest Bitcoin mined per 1 EH/s metric twitter.com . Just as long as there is no addition share dilution I expect Bitfarms (and other miners) to outperform Bitcoin in a bull market on the run ups.
NASDAQ:BITFLong
by MostlyGood
BITF IdeaTested the 200 EMA, let's see if we can break above and hold. Have a nice uptrend starting good amount of volume coming in. BITF looking good on the 30 Min chart as well. $1.47 Hopeful potential target, then drop down to the green box for the golden pocket on fib for an accumulation area. BTC testing $30K. Let's see how we do with all the current turmoil surrounding crypto. Potential to be another Mara or Riot? Halving next year, and miners tend to run up during these times. I hold BITF shares, may dive into some long calls soon. $.50 calls look nice for 2024, and 2025. These are my personal opinions, and my own thoughts. This is not financial advice, only invest what you're willing to lose. I am by no means a good trader, I wouldn't even consider myself amateur. lol.
NASDAQ:BITFLong
by rrak279067200
BITF will pump hard (but not yet) - 270 % profitBITF similary to other bitcoin mining stocks has been in a downtrend since 2021. Bitfarms Ltd., founded in 2017 and is one of the top Bitcoin Mining Companies. The price is approaching our buy zone. We expect one more drop to retest lows from 2020 and next the accumulation phase before the explosive move up. RSI on weekly is already pretty oversold but taking into an account bearish sentiment overall, most likely we see one more drop. In our opinion this stock is very undervalued now. Once crypto market starts recovering, we expect this stock to recover fast. Bottom for crypto market may be not far away (Many analysts believe that the bottom on BTC will be around 10k-12k $) therefore accumulating BITF may be a good idea too. Good luck
NASDAQ:BITFLong
by vf_investment
BITF cyclical trade/investment (3-5 years)There a strong probability that the price can break lows $0.28 lows. But buying at these prices unleveraged is still great opportunity. In terms of sentiment on financial blogs and social media, most are wholeheartedly predicting the future demise of this stock. Personally, this exact same mentality surrounding this stock at its highs in terms of how they somehow knew it was underpriced and that it had upside potential. As usual the crowd is often wrong. Always a hard pill to swallow for them... (no bullish sentiment in terms of price action) There's a lot of uncertainty surrounding bitcoin miners and many are not able to keep up with how things are going. The risk are undoubtedly high and reward is EXTREMELY high... If they are able to manage this and survive. Obviously, the need to keep up to date with the crypto market and this stock is needed to determine if the risks are not worth the investment. example -> If something occurs with BITF and they seem to be going the wrong direction and if BTC drops extensively. I highly doubt that though seems like the majority of the pain and washout has been done and those who got burned left and those who survived will thrive. Mostly leaves it how macro develops and when it will allow BTC to thrive.
TSX:BITFLong
by Mecka