Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 4th November, 2021 has come in at a decrease to -$74.7B for September 2021. Compared to the previous release for August 2021 at -$72.6B, we can see that foreign trade is still decreasing month over month.
To see the impact and volatility of BTC's price during the Balance of Trade 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 6,354 BTC with prices swinging between 61,230.66 and 62,072.43, representing a swing of 1.36%. Subsequently, the trading volume increased by 49% to 9,438 BTC. Price action ranged from a low of 60,775.00 to a high of 62,370.00, a significant difference of 2.56%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 291 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 61,527.66 to a high of 61,666.32, a 0.22% change. Immediately following, trading volume remain relatively similar at 281 BTC. At this time, Bitcoin hit a low of 61,500.01 with a high of 61,686.11, a change of 0.30%.
About International Trade Balance in Goods and Services
The balance of trade (BOT) measures economic transactions between a nation and its trading partners, showing the difference between the value of a country's imports and exports for a given period. The BEA and Census Bureau reports on the U.S. balance of payments (BOP), covering goods and services that move in and out of the country. Economists use this information to gauge the relative strength of a country's economy. When exports are higher than imports, it tends to boost GDP. In the opposite scenario, it creates a trade deficit.
Disclaimer
The data analysis, forecasted results and projections provided herein are based on historical price action and market trends. While every effort has been made to ensure the accuracy of the information, these predictions are speculative and should not be considered a guarantee of future performance. Market conditions can change rapidly, and past performance is not indicative of future results. Trading and investing involve significant risk, and you should conduct your own research and consult with a licensed financial advisor before making any investment decisions. We do not assume any liability for any losses that may result from reliance on this information.
BTC-USDT
Bitcoin
Open
63,070.77Close
61,205.2324h Change
-1865.54 (-3.05%)24h High
63,086.3124h Low
60,677.0124h Volume
35,912 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
4th November, 2021, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 61586.77 | 61638.71 | 61568.36 | 61638.16 | 0.08% | 0.11% | 18 BTC |
| During | 61638.17 | 61642.34 | 61588.00 | 61588.28 | -0.08% | 0.09% | 13 BTC |
| 5 Minutes | |||||||
| Before | 61560.00 | 61638.71 | 61549.90 | 61638.16 | 0.13% | 0.14% | 95 BTC |
| During | 61638.17 | 61642.34 | 61500.01 | 61562.51 | -0.12% | 0.23% | 95 BTC |
| 10 Minutes | |||||||
| Before | 61615.01 | 61658.66 | 61527.66 | 61638.16 | 0.04% | 0.21% | 198 BTC |
| During | 61638.17 | 61660.28 | 61500.01 | 61660.28 | 0.04% | 0.26% | 203 BTC |
| 15 Minutes | |||||||
| Before | 61576.83 | 61666.32 | 61527.66 | 61638.16 | 0.10% | 0.22% | 291 BTC |
| During | 61638.17 | 61686.11 | 61500.01 | 61666.27 | 0.05% | 0.30% | 281 BTC |
| 30 Minutes | |||||||
| Before | 61447.23 | 61666.32 | 61313.39 | 61638.16 | 0.31% | 0.57% | 825 BTC |
| During | 61638.17 | 61875.43 | 61500.01 | 61865.06 | 0.37% | 0.61% | 586 BTC |
| 1 Hour | |||||||
| Before | 61743.39 | 61788.98 | 61230.66 | 61638.16 | -0.17% | 0.90% | 1,993 BTC |
| During | 61638.17 | 61986.37 | 61500.01 | 61887.96 | 0.40% | 0.78% | 1,506 BTC |
| 2 Hours | |||||||
| Before | 61717.18 | 61966.29 | 61230.66 | 61638.16 | -0.13% | 1.19% | 3,339 BTC |
| During | 61638.17 | 62370.00 | 61500.01 | 61986.64 | 0.56% | 1.39% | 3,739 BTC |
| 4 Hours | |||||||
| Before | 62072.43 | 62072.43 | 61230.66 | 61638.16 | -0.70% | 1.36% | 6,354 BTC |
| During | 61638.17 | 62370.00 | 60775.00 | 61171.63 | -0.76% | 2.56% | 9,438 BTC |
| 6 Hours | |||||||
| Before | 62509.35 | 62645.63 | 61230.66 | 61638.16 | -1.41% | 2.26% | 10,551 BTC |
| During | 61638.17 | 62370.00 | 60723.00 | 61307.57 | -0.54% | 2.64% | 12,686 BTC |
| 8 Hours | |||||||
| Before | 63070.77 | 63086.31 | 61693.29 | 62072.43 | -1.61% | 2.21% | 11,130 BTC |
| During | 62072.43 | 62370.00 | 60775.00 | 61171.63 | -1.47% | 2.56% | 15,792 BTC |
| 12 Hours | |||||||
| Before | 63070.77 | 63086.31 | 61230.66 | 61638.16 | -2.32% | 2.94% | 17,484 BTC |
| During | 61638.17 | 62370.00 | 60677.01 | 61205.23 | -0.71% | 2.71% | 18,428 BTC |
