BITF Daily Technical Analysis
Bitfarms Ltd
Bitcoin mining, High-Performance Computing (HPC) and Artificial Intelligence (AI) infrastructure
BITF Technical Analysis Summary
Bitfarms is in a steep correction, currently testing a critical support zone defined by the rising 200-day SMA and the lower Bollinger Band. While the short-term technicals are bearish due to momentum trading below key shorter-term moving averages, the proximity to major support and oversold conditions may trigger a stabilization or bounce attempt. A reclaim of the 50-day SMA is required to shift the intermediate trend back to bullish.
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BITF Daily Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price is trading below the declining 20-day and 50-day SMAs, with the MACD line positioned below the signal line and zero.
Long-term Sentiment (weeks to months): Neutral
While the stock has experienced a deep drawdown from highs, it remains above the rising 200-day SMA, suggesting the primary long-term trend has not fully broken.
Report Metadata
- Timeframe: daily
- Generated at: 2026-02-03T15:18:17.116Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $2.19 | $2.13 - $2.24 | Strong | Confluence of the 200-day SMA (2.13) and the lower Bollinger Band (2.24), coinciding with recent lows. |
| $1.60 | $1.50 - $1.70 | Weak | Historical consolidation zone prior to the major breakout. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $2.72 | $2.71 - $2.73 | Strong | Heavy resistance cluster formed by the 20-day SMA (2.71) and the 50-day SMA (2.73). |
| $3.24 | $3.17 - $3.30 | Weak | Upper Bollinger Band and recent minor swing highs. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Correction to 200 SMA | Neutral | N/A | Price has retraced significantly to test the long-term 200-day moving average. |
| Weak | Oversold Bounce Setup | Bullish | $2.71 | Price is tagging the lower Bollinger Band with RSI near oversold levels (37), suggesting potential for a mean-reversion bounce. |
Frequently Asked Questions about BITF
What is the current sentiment for BITF?
The short-term sentiment for BITF is currently Bearish because Price is trading below the declining 20-day and 50-day SMAs, with the MACD line positioned below the signal line and zero.. The long-term trend is classified as Neutral.
What are the key support levels for BITF?
StockDips.AI has identified key support levels for BITF at $2.19 and $1.60. These levels may represent potential accumulation zones where buying interest could emerge.
Is BITF in a significant dip or a Value Dip right now?
BITF has a Value Score of 75/100. It is currently flagged as a significant dip in the Top Dips list. It is not listed as a Value Dip because the long-term sentiment or value-score threshold does not qualify.
View the full interactive analysis on StockDips.AI.