BTC Volatility Analysis for International Imports, 4th November 2020

Data Analysis

The data released by Bureau of Census, Bureau of Economic Analysis for International Imports in Goods and Services on 4th November, 2020 has come in at an increase to $239.5B for September 2020. Compared to the previous release for August 2020 at $238.6B, 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 11,088 BTC with prices swinging between 13,608.00 and 13,860.00, representing a swing of 1.82%. Subsequently, the trading volume increased significantly by 118% to 24,198 BTC. Price action ranged from a low of 13,737.12 to a high of 14,259.00, a significant difference of 3.66%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 728 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 13,786.87 to a high of 13,860.00, a 0.53% change. Immediately following, trading volume increased by 21% to 880 BTC. At this time, Bitcoin hit a low of 13,823.83 with a high of 13,895.00, a change of 0.51%.

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.