Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 9th January, 2024 has come in at a decrease to -$65.1B for November 2023. Compared to the previous release for October 2023 at -$64.1B, 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 11,343 BTC with prices swinging between 45,450.00 and 47,000.00, representing a swing of 3.30%. Subsequently, the trading volume remain relatively unchanged at 11,012 BTC. Price action ranged from a low of 46,429.31 to a high of 47,051.21, a difference of 1.32%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 1,160 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 46,480.00 to a high of 46,838.97, a 0.77% change. Immediately following, trading volume decreased by 38% to 715 BTC. At this time, Bitcoin hit a low of 46,599.39 with a high of 46,764.00, a change of 0.35%.
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
46,545.71Close
45,682.7424h Change
-862.97 (-1.89%)24h High
47,972.0024h Low
44,748.6724h Volume
68,211 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
9th January, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 46622.01 | 46646.04 | 46592.00 | 46641.58 | 0.04% | 0.12% | 39 BTC |
| During | 46641.57 | 46680.69 | 46636.18 | 46680.68 | 0.08% | 0.10% | 36 BTC |
| 5 Minutes | |||||||
| Before | 46710.00 | 46752.30 | 46592.00 | 46641.58 | -0.15% | 0.34% | 273 BTC |
| During | 46641.57 | 46742.00 | 46636.18 | 46701.00 | 0.13% | 0.23% | 195 BTC |
| 10 Minutes | |||||||
| Before | 46750.00 | 46838.97 | 46592.00 | 46641.58 | -0.23% | 0.53% | 772 BTC |
| During | 46641.57 | 46764.00 | 46604.00 | 46698.12 | 0.12% | 0.34% | 421 BTC |
| 15 Minutes | |||||||
| Before | 46559.76 | 46838.97 | 46480.00 | 46641.58 | 0.18% | 0.77% | 1,160 BTC |
| During | 46641.57 | 46764.00 | 46599.39 | 46607.88 | -0.07% | 0.35% | 715 BTC |
| 30 Minutes | |||||||
| Before | 46166.36 | 46838.97 | 46055.51 | 46641.58 | 1.02% | 1.67% | 3,121 BTC |
| During | 46641.57 | 47051.21 | 46595.74 | 46834.00 | 0.41% | 0.97% | 1,921 BTC |
| 1 Hour | |||||||
| Before | 46664.97 | 47000.00 | 45450.00 | 46641.58 | -0.05% | 3.30% | 6,349 BTC |
| During | 46641.57 | 47051.21 | 46595.74 | 46745.98 | 0.22% | 0.97% | 3,581 BTC |
| 2 Hours | |||||||
| Before | 46539.01 | 47000.00 | 45450.00 | 46641.58 | 0.22% | 3.30% | 8,296 BTC |
| During | 46641.57 | 47051.21 | 46429.31 | 46717.76 | 0.16% | 1.32% | 6,367 BTC |
| 4 Hours | |||||||
| Before | 46532.22 | 47000.00 | 45450.00 | 46641.58 | 0.23% | 3.30% | 11,343 BTC |
| During | 46641.57 | 47051.21 | 46429.31 | 46781.61 | 0.30% | 1.32% | 11,012 BTC |
| 6 Hours | |||||||
| Before | 46908.34 | 47000.00 | 45450.00 | 46641.58 | -0.57% | 3.30% | 14,227 BTC |
| During | 46641.57 | 47051.21 | 46429.31 | 46748.49 | 0.23% | 1.32% | 14,901 BTC |
| 8 Hours | |||||||
| Before | 46545.71 | 46974.42 | 46288.00 | 46532.21 | -0.03% | 1.46% | 11,382 BTC |
| During | 46532.22 | 47051.21 | 45450.00 | 46781.61 | 0.53% | 3.40% | 22,355 BTC |
| 12 Hours | |||||||
| Before | 46545.71 | 47000.00 | 45450.00 | 46641.58 | 0.21% | 3.30% | 22,725 BTC |
| During | 46641.57 | 47972.00 | 44748.67 | 45682.74 | -2.10% | 6.72% | 45,486 BTC |
