BTC Volatility Analysis for Durable Orders Ex Transportation, 26th March 2024

Data Analysis

The data released by Bureau of Census for Durable Goods Orders Excluding Transportation on 26th March, 2024 has come in at an increase to 0.1% for February 2024. Compared to the previous release for January 2024 at -0.9%, we can see that business confidence is increasing month over month.

To see the impact and volatility of BTC's price during the Durable Orders Ex Transportation release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.

4-Hours Chart Analysis

In the period prior to the release, the trading volume was 5,602 BTC with prices swinging between 70,477.35 and 71,280.00, representing a swing of 1.13%. Subsequently, the trading volume increased significantly by 111% to 11,831 BTC. Price action ranged from a low of 69,280.00 to a high of 71,136.63, a significant difference of 2.61%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 361 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 70,759.80 to a high of 70,980.00, a 0.31% change. Immediately following, trading volume decreased by 9% to 329 BTC. At this time, Bitcoin hit a low of 70,791.80 with a high of 71,054.79, a change of 0.37%.

About Durable Goods Orders Excluding Transportation

The U.S. Census Bureau publishes the Durable Goods Orders report every month. Durable goods orders ex transportation reflect new orders placed with domestic manufacturers for delivery of long-lasting manufactured goods (durable goods) excluding transportation equipment in the near term or future. The change in the total value of new orders is measured and shared with the public in two releases per month: the advance report on durable goods and the manufacturers' shipments, inventories, and orders.