Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 2nd May, 2024 has come in at an increase to -$66.3B for March 2024. Compared to the previous release for February 2024 at -$66.4B, we can see that foreign trade has decreased but at a slower rate 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 9,817 BTC with prices swinging between 57,561.14 and 59,117.68, representing a swing of 2.63%. Subsequently, the trading volume increased by 31% to 12,877 BTC. Price action ranged from a low of 58,222.00 to a high of 59,455.00, a difference of 2.07%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 2,559 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 58,670.00 to a high of 59,117.68, a 0.76% change. Immediately following, trading volume decreased by 32% to 1,744 BTC. At this time, Bitcoin hit a low of 58,681.89 with a high of 59,037.74, a change of 0.60%.
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
58,146.19Close
58,875.0224h Change
728.83 (1.24%)24h High
59,625.0024h Low
56,911.8424h Volume
45,727 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
2nd May, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 58706.21 | 58731.10 | 58698.71 | 58716.48 | 0.02% | 0.06% | 34 BTC |
| During | 58716.48 | 58776.49 | 58681.89 | 58761.63 | 0.08% | 0.16% | 51 BTC |
| 5 Minutes | |||||||
| Before | 58803.10 | 58873.13 | 58674.39 | 58716.48 | -0.15% | 0.34% | 421 BTC |
| During | 58716.48 | 58881.10 | 58681.89 | 58800.58 | 0.14% | 0.34% | 355 BTC |
| 10 Minutes | |||||||
| Before | 59061.23 | 59061.24 | 58670.00 | 58716.48 | -0.59% | 0.66% | 1,287 BTC |
| During | 58716.48 | 59001.21 | 58681.89 | 58897.09 | 0.31% | 0.54% | 1,206 BTC |
| 15 Minutes | |||||||
| Before | 58866.82 | 59117.68 | 58670.00 | 58716.48 | -0.26% | 0.76% | 2,559 BTC |
| During | 58716.48 | 59037.74 | 58681.89 | 58816.22 | 0.17% | 0.60% | 1,744 BTC |
| 30 Minutes | |||||||
| Before | 58559.66 | 59117.68 | 58446.18 | 58716.48 | 0.27% | 1.14% | 3,350 BTC |
| During | 58716.48 | 59037.74 | 58511.31 | 58556.59 | -0.27% | 0.89% | 2,694 BTC |
| 1 Hour | |||||||
| Before | 58299.48 | 59117.68 | 58075.48 | 58716.48 | 0.71% | 1.76% | 4,899 BTC |
| During | 58716.48 | 59037.74 | 58411.10 | 58732.26 | 0.03% | 1.06% | 3,565 BTC |
| 2 Hours | |||||||
| Before | 57691.08 | 59117.68 | 57561.14 | 58716.48 | 1.75% | 2.63% | 7,630 BTC |
| During | 58716.48 | 59037.74 | 58222.00 | 58659.33 | -0.10% | 1.38% | 6,200 BTC |
| 4 Hours | |||||||
| Before | 57905.85 | 59117.68 | 57561.14 | 58716.48 | 1.38% | 2.63% | 9,817 BTC |
| During | 58716.48 | 59455.00 | 58222.00 | 59150.94 | 0.73% | 2.07% | 12,877 BTC |
| 6 Hours | |||||||
| Before | 57718.55 | 59117.68 | 57531.10 | 58716.48 | 1.70% | 2.68% | 12,154 BTC |
| During | 58716.48 | 59455.00 | 58222.00 | 59107.14 | 0.66% | 2.07% | 15,301 BTC |
| 8 Hours | |||||||
| Before | 58146.19 | 58198.06 | 56911.84 | 57905.86 | -0.42% | 2.21% | 13,495 BTC |
| During | 57905.85 | 59455.00 | 57561.14 | 59150.94 | 2.10% | 3.19% | 22,693 BTC |
| 12 Hours | |||||||
| Before | 58146.19 | 59117.68 | 56911.84 | 58716.48 | 0.97% | 3.73% | 23,312 BTC |
| During | 58716.48 | 59625.00 | 58222.00 | 58875.02 | 0.27% | 2.35% | 22,415 BTC |
