Bitfarms Ltd. $BITF Soars 400% from the Blue Box Area. What’s Next?

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:

1. The first leg lower, labeled wave (A), has already formed, marking the initial phase of the pullback.
2. This was followed by a bounce in wave (B), which appears to be taking place.
3. 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.