BTC Volatility Analysis for Personal Income, 28th January 2022

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 28th January, 2022 has come in at a decrease to 0.3% for December 2021. Compared to the previous release for November 2021 at 0.5%, 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 6,533 BTC with prices swinging between 36,155.01 and 36,707.38, representing a swing of 1.50%. Subsequently, the trading volume increased by 49% to 9,732 BTC. Price action ranged from a low of 36,343.66 to a high of 37,376.70, a significant difference of 2.76%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 476 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 36,324.32 to a high of 36,513.20, a 0.52% change. Immediately following, trading volume increased significantly by 165% to 1,262 BTC. At this time, Bitcoin hit a low of 36,343.66 with a high of 36,989.92, a significant change of 1.75%.

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.