BTC Volatility Analysis for Personal Income, 27th January 2023

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 27th January, 2023 has come in at an increase to 0.4% for December 2022. Compared to the previous release for November 2022 at 0.3%, we can see that consumer sentiment is increasing 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 34,334 BTC with prices swinging between 22,851.08 and 22,989.99, representing a swing of 0.60%. Subsequently, the trading volume increased considerably by 100% to 68,837 BTC. Price action ranged from a low of 22,841.19 to a high of 23,204.06, a significant difference of 1.56%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 3,199 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 22,851.08 to a high of 22,954.98, a 0.45% change. Immediately following, trading volume increased considerably by 86% to 5,950 BTC. At this time, Bitcoin hit a low of 22,875.62 with a high of 23,022.00, a change of 0.64%.

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.