Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 4th August, 2022 has come in at an increase to -$79.8B for June 2022. Compared to the previous release for May 2022 at -$82.2B, 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 23,554 BTC with prices swinging between 22,750.00 and 22,985.60, representing a swing of 1.02%. Subsequently, the trading volume increased considerably by 56% to 36,756 BTC. Price action ranged from a low of 22,765.73 to a high of 23,148.99, a significant difference of 1.66%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 2,446 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 22,750.00 to a high of 22,862.76, a 0.49% change. Immediately following, trading volume decreased by 36% to 1,576 BTC. At this time, Bitcoin hit a low of 22,841.14 with a high of 22,904.30, a change of 0.28%.
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
22,994.78Close
22,635.6024h Change
-359.18 (-1.59%)24h High
23,223.3224h Low
22,400.0024h Volume
153,691 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
4th August, 2022, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 22852.54 | 22860.83 | 22839.31 | 22851.05 | -0.01% | 0.09% | 136 BTC |
| During | 22851.06 | 22888.00 | 22841.14 | 22866.26 | 0.07% | 0.20% | 204 BTC |
| 5 Minutes | |||||||
| Before | 22817.87 | 22862.76 | 22750.00 | 22851.05 | 0.15% | 0.49% | 1,011 BTC |
| During | 22851.06 | 22897.02 | 22841.14 | 22896.55 | 0.20% | 0.24% | 647 BTC |
| 10 Minutes | |||||||
| Before | 22842.39 | 22862.76 | 22750.00 | 22851.05 | 0.04% | 0.49% | 1,624 BTC |
| During | 22851.06 | 22904.30 | 22841.14 | 22891.73 | 0.18% | 0.28% | 1,180 BTC |
| 15 Minutes | |||||||
| Before | 22830.64 | 22862.76 | 22750.00 | 22851.05 | 0.09% | 0.49% | 2,446 BTC |
| During | 22851.06 | 22904.30 | 22841.14 | 22872.57 | 0.09% | 0.28% | 1,576 BTC |
| 30 Minutes | |||||||
| Before | 22885.01 | 22985.60 | 22750.00 | 22851.05 | -0.15% | 1.02% | 4,968 BTC |
| During | 22851.06 | 22932.27 | 22841.14 | 22895.80 | 0.20% | 0.40% | 3,334 BTC |
| 1 Hour | |||||||
| Before | 22883.08 | 22985.60 | 22750.00 | 22851.05 | -0.14% | 1.02% | 7,029 BTC |
| During | 22851.06 | 22952.43 | 22840.00 | 22935.90 | 0.37% | 0.49% | 6,694 BTC |
| 2 Hours | |||||||
| Before | 22920.90 | 22985.60 | 22750.00 | 22851.05 | -0.31% | 1.02% | 12,388 BTC |
| During | 22851.06 | 23148.99 | 22840.00 | 22877.30 | 0.11% | 1.33% | 21,610 BTC |
| 4 Hours | |||||||
| Before | 22925.82 | 22985.60 | 22750.00 | 22851.05 | -0.33% | 1.02% | 23,554 BTC |
| During | 22851.06 | 23148.99 | 22765.73 | 22921.69 | 0.31% | 1.66% | 36,756 BTC |
| 6 Hours | |||||||
| Before | 22856.15 | 23030.92 | 22750.00 | 22851.05 | -0.02% | 1.22% | 35,020 BTC |
| During | 22851.06 | 23148.99 | 22400.00 | 22591.99 | -1.15% | 3.24% | 55,815 BTC |
| 8 Hours | |||||||
| Before | 22994.78 | 23223.32 | 22815.35 | 22925.19 | -0.30% | 1.76% | 43,748 BTC |
| During | 22925.82 | 23148.99 | 22750.00 | 22921.69 | -0.02% | 1.72% | 60,310 BTC |
| 12 Hours | |||||||
| Before | 22994.78 | 23223.32 | 22750.00 | 22851.05 | -0.63% | 2.04% | 67,301 BTC |
| During | 22851.06 | 23148.99 | 22400.00 | 22635.60 | -0.95% | 3.24% | 86,390 BTC |
