Insights 
VT 
Bitfarms Ltd. ($BITF) has seen a 400% increase since April 2025, completing a 5-wave impulse cycle. Currently, the stock is in a corrective pullback stage. This presents a potential buying opportunity in the weeks ahead.
The stock has confirmed completion of wave (5) within wave ((1)) and entered a corrective phase according to Elliott Wave Theory. The initial leg lower, wave (A), is completed, followed by a bounce in wave (B). The next anticipated move is wave (C), expected to target $3.63–$2.93.
The Blue Box area is noted as a potential high-probability reversal zone where buyers might re-enter. Corrections often occur in 3 swings (ABC), with wave (C) likely extending into the Blue Box. Traders should monitor this zone for a reversal and the next bullish cycle.
Upon completing wave ((2)) in the Blue Box, $BITF is expected to resume its uptrend with wave ((3)), potentially reaching new highs. The ongoing correction offers a strategic buying opportunity, aligning with Elliott Wave analysis. Traders should focus on risk management while preparing for the next phase of the uptrend.
We have just seen the end of a major five-wave rally that began back in April 2025, and now a market correction is taking hold. This pullback is in line with the broader crypto market, as Bitcoin itself has retreated to the $88,000 level after failing to hold its September highs. This environment suggests a temporary shift in sentiment from bullish momentum to a corrective, sideways-to-downward phase for crypto-related equities.
For the immediate coming weeks, the structure suggests a further move down toward the $3.63–$2.93 range. Derivative traders could consider near-term bearish positions, such as buying put options with December 2025 expiration dates, to profit from this expected decline. This strategy allows for participation in the downside while capping maximum potential loss to the premium paid.
As the price enters that target zone, we should anticipate a significant reversal and prepare to switch our bias from bearish to bullish. Looking back at how these mining stocks behaved in 2024, sharp pullbacks often set the stage for explosive moves higher. Selling cash-secured puts with a strike around $3.00 could be an effective way to generate income or acquire shares at a favorable price ahead of the next rally.
Once the correction finds a bottom, the next major impulsive wave up is expected to begin, potentially taking the stock to new highs. This long-term bullish outlook is reinforced by the company’s recent report confirming its BTC holdings have surpassed 1,500 BTC and its hash rate continues to grow. Positioning for this through long-dated call options, perhaps with March 2026 expirations, would be a way to capture the anticipated powerful trend.
