BTC Volatility Analysis for Retail Sales Ex Autos, 17th May 2022

Data Analysis

The data released by Bureau of Census for Retail Sales Excluding Automobiles on 17th May, 2022 has come in at a decrease to 1.3% for April 2022. Compared to the previous release for March 2022 at 2.8%, 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 Retail Sales Ex Autos 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 7,756 BTC with prices swinging between 30,271.21 and 30,788.37, representing a swing of 1.68%. Subsequently, the trading volume increased considerably by 88% to 14,559 BTC. Price action ranged from a low of 29,883.91 to a high of 30,748.00, a significant difference of 2.81%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 731 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 30,389.50 to a high of 30,589.90, a 0.66% change. Immediately following, trading volume increased by 7% to 781 BTC. At this time, Bitcoin hit a low of 30,452.86 with a high of 30,650.00, a change of 0.64%.

About Retail Sales Excluding Automobiles

The U.S. Census Bureau publishes the Retail Sales report every month. It is a measure of consumer spending excluding the automobile sector. Retail firms provide data on the dollar value of their retail sales and inventories. A sample of 12,000 firms is included in the final survey and 5,000 in the advanced one. The advanced estimated data is based on a subsample from the USCB complete retail & food services sample.