BTC Volatility Analysis for Personal Income, 26th February 2021

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 26th February, 2021 has come in at an increase to 10.3% for January 2021. Compared to the previous release for December 2020 at 0.8%, 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 14,910 BTC with prices swinging between 45,662.94 and 47,266.34, representing a swing of 3.39%. Subsequently, the trading volume increased by 20% to 17,844 BTC. Price action ranged from a low of 45,800.00 to a high of 48,424.11, a significant difference of 5.42%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 1,001 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 46,102.58 to a high of 46,691.73, a 1.26% change. Immediately following, trading volume decreased by 19% to 814 BTC. At this time, Bitcoin hit a low of 46,093.00 with a high of 46,499.99, a change of 0.88%.

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.