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, a Zig-Zag (ABC) pattern is unfolding, approaching a critical support zone where buyers have historically stepped in. Let’s break down the key developments.
5 Wave Impulse Structure + ABC correction
$BITF Daily Elliott Wave View October 28th 2025:
$BITF Daily Elliott Wave View November 18th 2025:
Since our last update, $BITF has continued to decline,. The stock is now approaching the blue box area, where buyers may step in. 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 failed and broke below wave (A).
- The stock is now trading in wave (C) of the larger wave ((2)) correction, which should target the area at $2.00–$0.67.
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 $2.00–$0.67 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.