Hello Traders! In today’s update, we’ll revisit the Elliott Wave structure of Bitfarms Ltd. ($BITF) and provide insights into the next phase of its price action. You can check the last article here. As anticipated, the 5-wave impulsive cycle from April 2025 has concluded, and a corrective pullback has begun. This pullback presents a potential buying opportunity in the coming weeks. Let’s break it down.
5 Wave Impulse Structure + ABC correction
$BITF Daily Elliott Wave View August 19th 2025:
$BITF Daily Elliott Wave View October 28th 2025:
Since our last update, $BITF has rallied and confirmed the completion of wave (5) within wave ((1)). The stock has now entered a corrective phase, consistent with Elliott Wave Theory. Here’s how the structure is unfolding so far:
- The first leg lower, labeled wave (A), has already formed, marking the initial phase of the pullback.
- This was followed by a bounce in wave (B), which appears to be taking place.
- The stock will soon enter wave (C) of the larger wave ((2)) correction, which should target the area at $3.63–$2.93.
Blue Box Area: A Key Buying Opportunity
The Blue Box area represents a high-probability reversal zone where buyers could re-enter for the next bullish cycle. This correction, which follows the 5-wave impulse, allows the market to reset and create new opportunities for traders.
- Wave Structure: Corrections typically unfold in 3 swings (ABC), with wave (C) often extending into the Blue Box.
As $BITF approaches this zone, traders should closely monitor price action for signs of reversal and a resumption of the larger uptrend.
What’s Next for $BITF?
Once wave ((2)) completes in the Blue Box area, we expect $BITF to resume its bullish trend with a rally in wave ((3)). This next impulsive move could take the stock to new highs, continuing its uptrend.
Conclusion
The current correction in Bitfarms Ltd. ($BITF) aligns with our Elliott Wave analysis and offers a strategic buying opportunity. As the stock approaches the $3.63–$2.93 area, traders should prepare to capitalize on the next leg of the uptrend. Stay patient, focus on risk management, and let the Elliott Wave structure guide your decisions.
Source: https://elliottwave-forecast.com/stock-market/bitfarms-ltd-bitf-soars-400-blue-box-area-whats-next/