BITF similary to other bitcoin mining stocks has been in a downtrend since 2021.
Bitfarms Ltd., founded in 2017 and is one of the top Bitcoin Mining Companies.
The price is approaching our buy zone. We expect one more drop to retest lows from 2020 and next the accumulation phase before the explosive move up.
RSI on weekly is already pretty oversold but taking into an account bearish sentiment overall, most likely we see one more drop.
In our opinion this stock is very undervalued now. Once crypto market starts recovering, we expect this stock to recover fast. Bottom for crypto market may be not far away (Many analysts believe that the bottom on BTC will be around 10k-12k $) therefore accumulating BITF may be a good idea too.
Good luck
Bitfarms Ltd., founded in 2017 and is one of the top Bitcoin Mining Companies.
The price is approaching our buy zone. We expect one more drop to retest lows from 2020 and next the accumulation phase before the explosive move up.
RSI on weekly is already pretty oversold but taking into an account bearish sentiment overall, most likely we see one more drop.
In our opinion this stock is very undervalued now. Once crypto market starts recovering, we expect this stock to recover fast. Bottom for crypto market may be not far away (Many analysts believe that the bottom on BTC will be around 10k-12k $) therefore accumulating BITF may be a good idea too.
Good luck
💥 Free signals and ideas ➡ t.me/vfinvestment
