Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 3rd November, 2022 has come in at a decrease to -$67.8B for September 2022. Compared to the previous release for August 2022 at -$67B, 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 59,962 BTC with prices swinging between 20,052.00 and 20,338.99, representing a swing of 1.41%. Subsequently, the trading volume increased considerably by 53% to 91,697 BTC. Price action ranged from a low of 20,031.24 to a high of 20,339.86, a difference of 1.52%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 4,031 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 20,080.00 to a high of 20,147.56, a 0.34% change. Immediately following, trading volume increased by 33% to 5,366 BTC. At this time, Bitcoin hit a low of 20,066.67 with a high of 20,137.33, 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
20,174.61Close
20,284.2624h Change
109.65 (0.54%)24h High
20,393.3224h Low
20,031.2424h Volume
322,929 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
3rd November, 2022, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 20098.73 | 20108.01 | 20093.54 | 20103.51 | 0.02% | 0.07% | 198 BTC |
| During | 20103.25 | 20137.33 | 20085.44 | 20120.63 | 0.09% | 0.26% | 630 BTC |
| 5 Minutes | |||||||
| Before | 20091.43 | 20108.01 | 20080.00 | 20103.51 | 0.06% | 0.14% | 1,099 BTC |
| During | 20103.25 | 20137.33 | 20085.44 | 20121.35 | 0.09% | 0.26% | 1,980 BTC |
| 10 Minutes | |||||||
| Before | 20120.44 | 20121.36 | 20080.00 | 20103.51 | -0.08% | 0.21% | 2,748 BTC |
| During | 20103.25 | 20137.33 | 20075.23 | 20081.98 | -0.11% | 0.31% | 3,823 BTC |
| 15 Minutes | |||||||
| Before | 20140.32 | 20147.56 | 20080.00 | 20103.51 | -0.18% | 0.34% | 4,031 BTC |
| During | 20103.25 | 20137.33 | 20066.67 | 20100.55 | -0.01% | 0.35% | 5,366 BTC |
| 30 Minutes | |||||||
| Before | 20129.80 | 20178.95 | 20080.00 | 20103.51 | -0.13% | 0.49% | 9,585 BTC |
| During | 20103.25 | 20137.33 | 20031.24 | 20109.80 | 0.03% | 0.53% | 10,862 BTC |
| 1 Hour | |||||||
| Before | 20238.00 | 20251.72 | 20052.00 | 20103.51 | -0.67% | 0.99% | 22,621 BTC |
| During | 20103.25 | 20167.78 | 20031.24 | 20166.32 | 0.31% | 0.68% | 18,426 BTC |
| 2 Hours | |||||||
| Before | 20282.38 | 20297.13 | 20052.00 | 20103.51 | -0.89% | 1.21% | 36,163 BTC |
| During | 20103.25 | 20307.85 | 20031.24 | 20291.40 | 0.93% | 1.36% | 51,589 BTC |
| 4 Hours | |||||||
| Before | 20272.77 | 20338.99 | 20052.00 | 20103.51 | -0.84% | 1.41% | 59,962 BTC |
| During | 20103.25 | 20339.86 | 20031.24 | 20249.99 | 0.72% | 1.52% | 91,697 BTC |
| 6 Hours | |||||||
| Before | 20326.49 | 20363.83 | 20052.00 | 20103.51 | -1.11% | 1.53% | 83,465 BTC |
| During | 20103.25 | 20339.86 | 20031.24 | 20245.97 | 0.70% | 1.52% | 116,611 BTC |
| 8 Hours | |||||||
| Before | 20174.61 | 20393.32 | 20157.15 | 20272.78 | 0.48% | 1.16% | 86,328 BTC |
| During | 20272.77 | 20339.86 | 20031.24 | 20249.99 | -0.11% | 1.52% | 151,659 BTC |
| 12 Hours | |||||||
| Before | 20174.61 | 20393.32 | 20052.00 | 20103.51 | -0.35% | 1.67% | 146,290 BTC |
| During | 20103.25 | 20339.86 | 20031.24 | 20284.26 | 0.89% | 1.52% | 176,639 BTC |
