BTC Volatility Analysis for Durable Orders, 27th September 2022

Data Analysis

The data released by Bureau of Census for Durable Goods Orders on 27th September, 2022 has come in at a decrease to -0.7% for August 2022. Compared to the previous release for July 2022 at -0.1%, we can see that business confidence is still decreasing month over month.

To see the impact and volatility of BTC's price during the Durable Orders 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 86,418 BTC with prices swinging between 20,091.30 and 20,385.86, representing a swing of 1.44%. Subsequently, the trading volume increased by 41% to 122,128 BTC. Price action ranged from a low of 19,395.66 to a high of 20,366.33, a significant difference of 4.77%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 6,701 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 20,236.25 to a high of 20,385.86, a 0.73% change. Immediately following, trading volume decreased by 16% to 5,620 BTC. At this time, Bitcoin hit a low of 20,252.41 with a high of 20,332.08, a change of 0.39%.

About Durable Goods Orders

The U.S. Census Bureau publishes the Durable Goods Orders report every month. Durable goods orders reflect new orders placed with domestic manufacturers for delivery of long-lasting manufactured goods (durable goods) 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.