Can Bit Digital stock hold $1.35 support as losses persist from unprofitability?

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Bit Digital drops 3.13% to $1.55 today

Highlights

Bit Digital stock posted a net loss per share of $0.31 for the second quarter, narrowing from $0.45 a year earlier.
Quarterly revenue reached $32.1 million, exceeding forecasts and showing continued growth despite the company's ongoing unprofitability.
Bit Digital stock trades in a forecasted $1.35 to $1.75 range with technical indicators signaling constructive momentum but high intraday volatility.

Narrowed losses and revenue beat fuel optimism amid persistent selling

Bit Digital Inc. reported second-quarter results that showed a net loss per share of $0.31, narrowing from a loss of $0.45 per share a year earlier. Revenue for the quarter reached $32.1 million, surpassing the projected $22.61 million and reflecting continued top-line growth despite the company’s ongoing unprofitability. The combination of improving loss metrics and revenue outperformance points to operational progress, though price action has remained under broader selling pressure.

Short-term strength evident as major resistance stalls bullish momentum

Technically, BTBT is trading above the MA-20 and MA-50 while still capped by the MA-200, indicating some resilience in shorter timeframes against the longer-term bearish structure. The Ichimoku Kijun at $1.47 provides immediate support. Momentum readings are constructive with both MACD and ADX indicating buying conditions amid high volatility, while RSI registers a mildly bullish 51.04. Stoch RSI and CCI are Neutral, suggesting a lack of strong directional conviction. Bull/Bear Power points to buyers dominating intraday flows, but this is not confirmed by the Awesome Oscillator, highlighting the divergence between momentum and oscillator follow-through.

Sideways price action expected as breakout odds remain uneven

In the short term, BTBT is likely to fluctuate within the $1.35 to $1.75 range, consistent with recent volatility. The probability of an upward breakout is estimated at 67%, contrasted with a 33% likelihood of a move lower. Price action is expected to trend sideways between these support and resistance levels unless a decisive breakout above $1.75 or a breakdown below $1.35 occurs, which would open the door to a directional move in line with the breach.

Viktoras Karapetjanc, expert at Traders Union, sees improving financial performance and stronger revenue momentum as signs of operational progress for Bit Digital Inc. He believes the narrowing net loss and positive sentiment around quarterly numbers support a constructive outlook, despite the stock’s continued consolidation. The analyst notes current price action is responding to both momentum indicators and broader market pressures. In the short term, he expects BTBT to remain range-bound, with a higher probability of an upside breakout. "If revenue growth persists and market sentiment stabilizes, I believe BTBT is set up for a potential move above $1.75."

Earlier, analysts noted that Bit Digital had shifted into a more constructive technical posture, with buyer momentum emerging over the short term despite long-term resistance. The latest earnings results and prevailing price action reinforce near-term resilience, but traders should monitor for a sustained move outside the $1.35–$1.75 range to clarify the next directional bias.

Source of Data: BTBT Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.