BTC Volatility Analysis for Personal Income, 28th October 2022

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 28th October, 2022 has come in at a decrease to 0.6% for September 2022. Compared to the previous release for August 2022 at 0.6%, we can see that consumer sentiment is still increasing but slowed month over month.

To see the impact and volatility of BTC's price during the Personal Income 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 41,373 BTC with prices swinging between 20,093.63 and 20,248.64, representing a swing of 0.77%. Subsequently, the trading volume increased significantly by 122% to 92,036 BTC. Price action ranged from a low of 20,000.09 to a high of 20,705.51, a significant difference of 3.41%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 2,545 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 20,123.65 to a high of 20,186.73, a 0.31% change. Immediately following, trading volume increased significantly by 328% to 10,900 BTC. At this time, Bitcoin hit a low of 20,000.09 with a high of 20,292.85, a significant change of 1.44%.

About Personal Income and Outlays

Personal Income measures the change in the total value of income received from all sources by consumers. Income is closely correlated with consumer spending, which accounts for a majority of overall economic activity.