BITF Weekly Technical Analysis
Bitfarms Ltd
Bitcoin mining, High-Performance Computing (HPC) and Artificial Intelligence (AI) infrastructure
BITF Technical Analysis Summary
The weekly chart shows a long-term uptrend characterized by a series of higher highs and higher lows since early 2023. Recently, the price has experienced a significant pullback, breaking below short-term moving averages. However, it is currently testing major support near the 200-week SMA, which may offer an area for a potential bounce or stabilization.
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BITF Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price is currently trading below the 20 and 50 period moving averages and has been in a short term downtrend over recent weeks. MACD is negative and declining.
Long-term Sentiment (weeks to months): Bullish
Price is trading well above the 200 period moving average and has maintained a broad uptrend since the lows established in early 2023. The 50 period SMA has recently crossed above the 200 period SMA.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-02-21T18:38:05.125Z
- Model: gemini-3.1-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $1.75 | $1.70 - $1.80 | Strong | Confluence of recent swing lows and the rising 200 period SMA. |
| $1.20 | $1.10 - $1.30 | Weak | Prior consolidation zone from mid-2023. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $3.10 | $3.00 - $3.20 | Strong | Recent swing high resistance and structural area. |
| $4.75 | $4.50 - $5.00 | Strong | Major swing high formed in early 2024. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Weak | Pullback to Moving Averages | Neutral | N/A | Price has retreated from local highs and is testing the support of the 200 period SMA and recent swing lows. |
Frequently Asked Questions about BITF
What is the current sentiment for BITF?
The short-term sentiment for BITF is currently Bearish because Price is currently trading below the 20 and 50 period moving averages and has been in a short term downtrend over recent weeks. MACD is negative and declining.. 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 $1.75 and $1.20. 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 62/100. 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.