Bitfarms Ltd. ($BITF) soars 400% from the blue box area – What’s next? | FXStreet

In today’s update, we’llrevisittheElliott Wave structureofBitfarms Ltd. ($BITF)and provide insights into the next phase of its price action. You can check thelast article here. As anticipated, the5-wave impulsive cyclefrom 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.

Five 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 ofwave (5)withinwave ((1)). The stock has now entered a corrective phase, consistent withElliott Wave Theory. Here’s how the structure is unfolding so far:

• The first leg lower, labeledwave (A), has already formed, marking the initial phase of the pullback.
• This was followed by abounce in wave (B), which appears to be taking place.
• The stock will soon enterwave (C)of the largerwave ((2))correction, which should target the areaat $3.63–$2.93.

Blue box area: A key buying opportunity

TheBlue Box arearepresents 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?

Oncewave ((2))completes in the Blue Box area, we expect $BITF to resume its bullish trend with a rally inwave ((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–$2.93area, 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.