BitTorrent (BTT)

Current price: $ 0.000499

24 hours price change: $ -0.000100 (-16.67%)

BitTorrent - Average Directional Index

The Average Directional indicator (or ADX) is a directional trading indicator that is used to identify a technical trend, in this case of the BitTorrent. The trend that is being identified, can be both a positive trend as a negative trend in the pricedevelopment of BitTorrent.

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for BitTorrent. In this continuously updated article, we will explain the meaning and current trend of BitTorrent. The current ADX analysis is based on the historical prices of BitTorrent until September 22nd, 2019.

In the chart below, the strength the trend is drawn, as well as the positive and negative directional indicators. The ADX (Average Directional Index) is the black line. The positive directional indicator (+DI) is the green line, and the negative directional indicator (-DI) is drawn in red.

Price chart for BitTorrent from 04/09/2019 until 09/22/2019.

In the chart above, the development of the price for BitTorrent is shown for the period from 04/09/2019 until 09/22/2019. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for BitTorrent until 09/22/2019.

In the charts above, you can see the trends of the ADX, +DI and -DI. The current values of these three indicators for the BitTorrent are listed in the table below.

BitTorrent average directional index 26.71
BitTorrent positive directional indicator 42.45
BitTorrent negative directional indicator 28.58

 

Several signals can be gained from the chart above. First of all, the green line gives us an indication of the positive trend. The opposite line, the red one, indicates the negative trend for BitTorrent.

When the green line tops the red line, the BitTorrent is in a positive trend. However, when the situation turns around, the trend has also changed to a negative trend for BitTorrent.

Furthermore, the black line gives the strength of the current trend of BitTorrent, both positive and negative. The higher the black line (ADX), the stronger the trend.

BitTorrent ADX score

The Average Directional Index (ADX) is used to measure the strength or weakness of a trend, not the actual direction. In general, when the positive directional indicator is higher than the negative directional in indicator, the trend of BitTorrent is assumed to be positive. An important signal is when the -DI (red line) and +DI (green line) crosses over.

The current directional indicator gives a positive signal for BitTorrent. The positive directional indicator for BitTorrent is 42.45, which is higher than the negative directional indicator (28.58). The trend that the BitTorrent follows is a positive one.

The current ADX value is 26.71, which tells us that the current trend is strong. Using these values, we can asume that the BitTorrent will continue its upwards trend. In short, the current average directional index gives us a buying signal for the BitTorrent. However, keep an eye on turning trends.