BTCUSDT review and analysis using the Accumulation and Distribution Line as an Indicator

Disclaimer

Please note that the content of this post is not characterized as financial advise by the author, rather it is an overview of my personal opinions regarding different assets on the crypto market.

Conduct your own research if you decide to invest in the market.

Hello, hope you are well and sound. In this post I am going to be sharing my analysis of three separate assets on the crypto market with you today.

We are going to be looking at an indicator which I use personally to decide whether I should either buy or sell any particular token.

We will be studying the BTCUSDT to locate if there is a possible buy signal.

We are going to use the ADL indicator to judge the health of the pair that we analyze

BTCUSDT

Bitcoin is currently trading at $9,299 against USD Tether. In the last 24 hours, Bitcoin has reached a high of $9,380 and a low of $9,170.

Taking a look at the 1 day chart for BTCUSDT from the beginning of June, the Accumulation and Distribution line dictates that Bitcoin has been in an upward trend, there's accumulation and a possibility for the price to move higher in the long term.

This would indicate that I could buy and hold probably for half a month and see what happens.

Also comparing the movement of the price for the past 18 days to the movement of the ADL line we would see that the price has been falling while the ADL has been rising creating a divergence on the chart. This signifies a bullish divergence in the medium term and a considerably strong buy signal.

However, on the short term the chances of making profit trading BTC against USDT looks slim, the market is looking bearish on the short term if we consider what the ADL line is telling us.

Conclusion

At the moment the chance for Bitcoin looks good going forward and if I have deduced rightly we should see a rise in the price of Bitcoin against USDT over the course of the next few days stretched to the next two weeks.

If you are a swing trader and you haven't taken a position on Bitcoin now might be a good time to do so, however before you do conduct your own research.