With Bitcoin gathering more than $ 40 billion since the March 2020 low, the Crypto and Blockchain markets continue to show potential. Bit Digital is a company that experienced a major vertical rally in late 2020. After that, it has been correcting the entire rally in a big wave II.
Bit Digital is made public as one of the largest bitcoin mining companies in the world. Bit Digital is a sustainability-focused digital asset generator with large-scale global mining operations representing a current maximum hash rate of 1920 PH / S.
After going from 28 cents to a high of 33.00 and after correcting up to 3.97, traders should be aware of the extreme volatility inherent in the Bitcoin mining sector.
Elliottwave View Digital Bit:
Mid-term view at the all-time low of March 2020. In short, there was a 5-wave advance with a widespread fifth wave. This momentum peaked on January 4, 2121 at a price of 33.00. After that, there has been a long setback. This setback supported the extreme area of the blue box where shoppers have begun to enter to make a bounce. Right now, the instrument is favored to be in the middle of an initial wave advance (1). It is important that we do not chase and only change the setbacks of the structures to the ends of the blue box in the swing of 3, 7 or 11. The next area above where the top retreat can occur is the area of 14.56.