BitTorrent (BTT)

Current price: $ 0.001266

24 hours price change: $ 0.000025 (2.01%)

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 March 8th, 2021.

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 09/07/2020 until 03/08/2021.

In the chart above, the development of the price for BitTorrent is shown for the period from 09/07/2020 until 03/08/2021. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for BitTorrent until 03/08/2021.

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 23.09
BitTorrent positive directional indicator 29.69
BitTorrent negative directional indicator 36.82

 

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.

As you can see in the chart above, the BitTorrent follows a negative trend. The positive directional indicator (29.69) is lower than the negative directional indicator (36.82). When the BitTorrent is in this kind of situations, the trend is negative.

Allthough the trend is negative, the current situation of the trend of BitTorrent is not that strong. The ADX gives us a value of 23.09, which means that the trend currently followed by BitTorrent is a weak one. To get clear signals from the ADX for BitTorrent, you should wait until the ADX moves upwards of 25.

As mentioned, the current trend is negative, however the trend might flip over to a positive trend.

 

We use cookies on our website. Some of them are essential for the operation of the site, while others help us to improve this site and the user experience (tracking cookies). You can decide for yourself whether you want to allow cookies or not. Please note that if you reject them, you may not be able to use all the functionalities of the site.