BTC Volatility Analysis for Personal Income, 1st October 2020

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 1st October, 2020 has come in at a decrease to 0.8% for September 2020. Compared to the previous release for July 2020 at 1.3%, 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 7,795 BTC with prices swinging between 10,842.16 and 10,918.16, representing a swing of 0.70%. Subsequently, the trading volume increased significantly by 119% to 17,072 BTC. Price action ranged from a low of 10,515.00 to a high of 10,898.99, a significant difference of 3.52%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 307 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 10,860.25 to a high of 10,874.84, a 0.13% change. Immediately following, trading volume increased considerably by 75% to 537 BTC. At this time, Bitcoin hit a low of 10,872.43 with a high of 10,898.99, a significant change of 0.24%.

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.