$Bitfarms Ltd.(BITF)$ π₯ππ $BITF BULLISH PENNANT: READY FOR LIFTOFF? πππ₯
π Structural Setup
Iβm tracking Bitfarms ($BITF) after its explosive run from sub-$1.60 to $3.62. The move created a textbook bullish pennant; strong pole, converging range, and now compression under $3.20. The technicals remain constructive as long as $2.80 holds, with EMAs stacked bullishly on the 4H.
π Chart Dynamics
Iβm watching a liquidity flush retest into $2.93β$2.80. That zone has acted as a key decision area across multiple timeframes, confirmed by Keltner and Bollinger mid-bands. A clean hold here signals strength. A push back through $3.20 on volume unlocks measured-move targets of $4.10, then $4.70.
β‘ Momentum Lens
On the 30m, sellers have pressed price under short EMAs, but the longer trend remains intact. This is classic volatility compression before expansion. Breakout fuel is building. But if $2.80 cracks, we could see a credibility reset back toward $2.40 support.
π― Key Levels
Support: $2.93, $2.80, $2.60
Resistance: $3.20, $3.62, $4.10, $4.70
Breakout confirmation: Sustained close above $3.20 with volume.
π§ Strategic View
Iβm treating this as a probability-weighted framework: not a prediction, but a continuation thesis. With Bitcoin momentum staying firm, miners like BITF remain leveraged plays. Upside remains compelling, but the roadmap depends on defending $2.80 first.
π Do you think $BITF breaks $3.20 first, or does liquidity wash us back to $2.40 before the next leg?
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Trade like a boss! Happy trading ahead, Cheers, BC πππππ
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- Cool Cat WinstonΒ·09-23TOPπI like how you mapped that $2.80 zone as the credibility reset, BC. Reminds me of how $RIOT held its mid channel before blasting higher. Holding above layered EMAs makes the pennant feel more valid and the upside to $4.10 looks very achievable.4Report
- Tui JudeΒ·09-23TOPπThat $3.20 breakout confirmation you highlighted is key. I saw a similar setup on $MARA last month and once volume came in it never looked back. The way you tied the pennant to BTC momentum makes me think continuation here has serious legs.3Report
- Hen SoloΒ·09-23TOPπ‘The liquidity flush call at $2.93 to $2.80 is sharp. I noticed $CLSK had that same kind of mid consolidation pullback before running. The framework you laid out isnβt just technical, it shows how trend traders manage conviction levels effectively.1Report
- QueengirlypopsΒ·09-23Thanks BC, Iβm still long! π₯π₯π₯2Report
- BallbagzΒ·09-23long on the farmπ1Report