BITF Weekly Technical Analysis
Bitfarms Ltd
Bitcoin mining, High-Performance Computing (HPC) and Artificial Intelligence (AI) infrastructure
BITF Technical Analysis Summary
Bitfarms is undergoing a significant short-term correction, evidenced by the loss of the 20-week moving average and bearish divergence on momentum indicators like the MACD and RSI. However, the long-term technical picture remains constructive as the price holds above the critical 1.74–1.91 support zone, where the 50-week and 200-week SMAs converge. Investors should watch for stabilization near these moving averages to confirm if the primary uptrend is still intact.
Included In Lists
Related Tickers of Interest
BITF Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Current weekly candle shows a sharp decline (-14.60%), breaking below the 20-week SMA (basis). RSI has crossed below 50, and MACD reflects negative momentum with a bearish crossover and expanding red histogram.
Long-term Sentiment (weeks to months): Bullish
Despite the pullback, the price remains above the key 50-week (1.91) and 200-week (1.74) SMAs. A 'Golden Cross' (50 SMA crossing above 200 SMA) occurred recently, supporting a structural uptrend from the 2023 lows.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-01-31T23:39:59.612Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $2.15 | $2.00 - $2.30 | Weak | Previous swing highs from mid-2023 which may act as a polarity support zone. |
| $1.83 | $1.74 - $1.91 | Strong | Major confluence zone containing the 50-week SMA (1.91) and the 200-week SMA (1.74). |
| $1.63 | $1.63 - $1.63 | Weak | Lower Bollinger Band level. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $3.17 | $3.14 - $3.20 | Strong | The 20-week SMA (Bollinger Band basis) which has now turned into dynamic resistance. |
| $4.75 | $4.60 - $4.90 | Strong | Recent cycle highs and the Upper Bollinger Band area. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Mean Reversion / Correction | Bearish | $1.91 | Price is correcting sharply from overextended highs towards the long-term mean (50/200 SMAs) after an impulsive rally. |
Frequently Asked Questions about BITF
What is the current sentiment for BITF?
The short-term sentiment for BITF is currently Bearish because Current weekly candle shows a sharp decline (-14.60%), breaking below the 20-week SMA (basis). RSI has crossed below 50, and MACD reflects negative momentum with a bearish crossover and expanding red histogram.. The long-term trend is classified as Bullish.
What are the key support levels for BITF?
StockDips.AI has identified key support levels for BITF at $2.15 and $1.83. 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 99/100. It is not 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.