BITF Daily Technical Analysis
Bitfarms Ltd
Bitcoin mining, High-Performance Computing (HPC) and Artificial Intelligence (AI) infrastructure
BITF Technical Analysis Summary
Bitfarms is currently in a short-term correction phase, trading below its shorter-term moving averages (20 and 50 SMAs) with subdued momentum as indicated by the RSI. However, the long-term technical structure remains bullish as the price holds above the rising 200-day SMA. Investors should watch for a breakout above the 2.78 resistance cluster to confirm a resumption of the uptrend, while the 2.32 level serves as critical near-term support.
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BITF Daily Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price is trading below the 20-day (2.73) and 50-day (2.78) SMAs. The RSI is below 50 (44.28), indicating weak momentum.
Long-term Sentiment (weeks to months): Bullish
Price remains well above the rising 200-day SMA (2.07), and the 50-day SMA is positioned above the 200-day SMA, confirming the primary trend is upward despite the recent pullback.
Report Metadata
- Timeframe: daily
- Generated at: 2026-01-23T15:20:29.676Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $2.36 | $2.32 - $2.40 | Strong | Confluence of recent swing lows and the Lower Bollinger Band. |
| $2.04 | $2.00 - $2.07 | Strong | Major support zone aligned with the 200-day SMA and prior consolidation areas. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $2.76 | $2.73 - $2.78 | Strong | Cluster of resistance formed by the 20-day SMA and 50-day SMA immediately overhead. |
| $3.22 | $3.15 - $3.30 | Weak | Upper Bollinger Band and recent local swing highs. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Weak | Bullish Consolidation | Bullish | N/A | After a strong rally in late 2023, the price has entered a correction phase but is holding above long-term moving averages. |
| Weak | Potential Double Bottom | Bullish | $3.00 | Price has tested the 2.30-2.40 area twice recently (late January and February), suggesting a potential base formation. |
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 20-day (2.73) and 50-day (2.78) SMAs. The RSI is below 50 (44.28), indicating weak momentum.. 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 $2.36 and $2.04. 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 -4/100. It is currently flagged as a significant dip in the Top Dips list. It is also listed as a Value Dip because long-term sentiment is bullish.
View the full interactive analysis on StockDips.AI.