Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 7th July, 2022 has come in at an increase to -$82.2B for May 2022. Compared to the previous release for April 2022 at -$82.9B, 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 9,293 BTC with prices swinging between 20,395.65 and 20,619.50, representing a swing of 1.09%. Subsequently, the trading volume increased significantly by 116% to 20,109 BTC. Price action ranged from a low of 20,378.16 to a high of 21,035.00, a significant difference of 3.12%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 904 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 20,396.73 to a high of 20,510.00, a 0.55% change. Immediately following, trading volume decreased by 42% to 527 BTC. At this time, Bitcoin hit a low of 20,383.36 with a high of 20,457.68, a change of 0.36%.
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
20,519.58Close
21,621.4524h Change
1101.87 (5.10%)24h High
21,838.1024h Low
20,251.6824h Volume
84,554 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
7th July, 2022, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 20432.17 | 20439.06 | 20425.20 | 20430.04 | -0.01% | 0.07% | 54 BTC |
| During | 20430.04 | 20436.01 | 20401.94 | 20433.36 | 0.02% | 0.17% | 45 BTC |
| 5 Minutes | |||||||
| Before | 20409.24 | 20443.53 | 20396.73 | 20430.04 | 0.10% | 0.23% | 363 BTC |
| During | 20430.04 | 20437.02 | 20392.72 | 20395.17 | -0.17% | 0.22% | 198 BTC |
| 10 Minutes | |||||||
| Before | 20450.48 | 20450.48 | 20396.73 | 20430.04 | -0.10% | 0.26% | 679 BTC |
| During | 20430.04 | 20437.02 | 20383.36 | 20427.72 | -0.01% | 0.26% | 399 BTC |
| 15 Minutes | |||||||
| Before | 20484.99 | 20510.00 | 20396.73 | 20430.04 | -0.27% | 0.55% | 904 BTC |
| During | 20430.04 | 20457.68 | 20383.36 | 20446.78 | 0.08% | 0.36% | 527 BTC |
| 30 Minutes | |||||||
| Before | 20507.83 | 20510.00 | 20396.73 | 20430.04 | -0.38% | 0.55% | 1,264 BTC |
| During | 20430.04 | 20459.83 | 20383.36 | 20428.59 | -0.01% | 0.37% | 796 BTC |
| 1 Hour | |||||||
| Before | 20447.97 | 20510.00 | 20396.73 | 20430.04 | -0.09% | 0.55% | 1,995 BTC |
| During | 20430.04 | 20459.83 | 20381.00 | 20393.95 | -0.18% | 0.39% | 1,767 BTC |
| 2 Hours | |||||||
| Before | 20540.16 | 20558.65 | 20396.73 | 20430.04 | -0.54% | 0.79% | 3,843 BTC |
| During | 20430.04 | 20739.00 | 20378.16 | 20722.52 | 1.41% | 1.74% | 8,771 BTC |
| 4 Hours | |||||||
| Before | 20419.25 | 20619.50 | 20395.65 | 20430.04 | 0.05% | 1.09% | 9,293 BTC |
| During | 20430.04 | 21035.00 | 20378.16 | 20925.52 | 2.37% | 3.12% | 20,109 BTC |
| 6 Hours | |||||||
| Before | 20344.05 | 20619.50 | 20299.72 | 20430.04 | 0.42% | 1.55% | 13,212 BTC |
| During | 20430.04 | 21200.00 | 20378.16 | 21100.60 | 3.18% | 3.88% | 29,060 BTC |
| 8 Hours | |||||||
| Before | 20519.58 | 20592.89 | 20251.68 | 20419.25 | -0.49% | 1.66% | 14,579 BTC |
| During | 20419.25 | 21035.00 | 20378.16 | 20925.52 | 2.42% | 3.12% | 29,402 BTC |
| 12 Hours | |||||||
| Before | 20519.58 | 20619.50 | 20251.68 | 20430.04 | -0.44% | 1.78% | 23,872 BTC |
| During | 20430.04 | 21838.10 | 20378.16 | 21621.45 | 5.51% | 6.69% | 60,682 BTC |
