BTC Volatility Analysis for International Imports, 6th October 2020

Data Analysis

The data released by Bureau of Census, Bureau of Economic Analysis for International Imports in Goods and Services on 6th October, 2020 has come in at an increase to $238.6B for August 2020. Compared to the previous release for July 2020 at $231.6B, we can see that foreign trade is increasing month over month.

To see the impact and volatility of BTC's price during the International Imports 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 7,684 BTC with prices swinging between 10,650.46 and 10,754.71, representing a swing of 0.97%. Subsequently, the trading volume increased by 40% to 10,785 BTC. Price action ranged from a low of 10,621.00 to a high of 10,760.00, a difference of 1.29%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 370 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 10,697.60 to a high of 10,712.10, a 0.14% change. Immediately following, trading volume increased by 46% to 539 BTC. At this time, Bitcoin hit a low of 10,708.94 with a high of 10,722.78, a change of 0.13%.

About International Imports in Goods and Services

International Imports measures economic transactions between a nation and its trading partners, showing the amount of a country's imports for a given period. The BEA and Census Bureau reports on the U.S. balance of payments (BOP), covering goods and services that move in to the country. Economists use this information to gauge the relative strength of a country's economy.