Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 7th March, 2024 has come in at a decrease to -$67.1B for January 2024. Compared to the previous release for December 2023 at -$63.9B, 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 7,812 BTC with prices swinging between 66,456.27 and 67,275.20, representing a swing of 1.22%. Subsequently, the trading volume increased considerably by 98% to 15,459 BTC. Price action ranged from a low of 66,541.10 to a high of 67,980.00, a significant difference of 2.12%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 439 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 66,606.25 to a high of 66,881.03, a 0.41% change. Immediately following, trading volume increased by 14% to 501 BTC. At this time, Bitcoin hit a low of 66,755.14 with a high of 67,010.00, a change of 0.38%.
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
66,119.99Close
66,980.0024h Change
860.01 (1.28%)24h High
67,980.0024h Low
65,657.5924h Volume
52,544 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
7th March, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 66873.98 | 66881.03 | 66845.69 | 66881.02 | 0.01% | 0.05% | 21 BTC |
| During | 66881.03 | 66956.97 | 66862.01 | 66956.96 | 0.11% | 0.14% | 39 BTC |
| 5 Minutes | |||||||
| Before | 66750.00 | 66881.03 | 66734.01 | 66881.02 | 0.20% | 0.22% | 131 BTC |
| During | 66881.03 | 67010.00 | 66861.10 | 66887.99 | 0.01% | 0.22% | 221 BTC |
| 10 Minutes | |||||||
| Before | 66714.97 | 66881.03 | 66606.25 | 66881.02 | 0.25% | 0.41% | 283 BTC |
| During | 66881.03 | 67010.00 | 66795.85 | 66821.98 | -0.09% | 0.32% | 367 BTC |
| 15 Minutes | |||||||
| Before | 66638.46 | 66881.03 | 66606.25 | 66881.02 | 0.36% | 0.41% | 439 BTC |
| During | 66881.03 | 67010.00 | 66755.14 | 66875.44 | -0.01% | 0.38% | 501 BTC |
| 30 Minutes | |||||||
| Before | 66712.43 | 66881.03 | 66592.52 | 66881.02 | 0.25% | 0.43% | 768 BTC |
| During | 66881.03 | 67010.00 | 66755.14 | 66905.69 | 0.04% | 0.38% | 964 BTC |
| 1 Hour | |||||||
| Before | 66836.76 | 66900.00 | 66575.52 | 66881.02 | 0.07% | 0.49% | 1,709 BTC |
| During | 66881.03 | 67307.05 | 66755.14 | 67249.59 | 0.55% | 0.82% | 2,454 BTC |
| 2 Hours | |||||||
| Before | 66715.12 | 67113.90 | 66575.52 | 66881.02 | 0.25% | 0.80% | 3,664 BTC |
| During | 66881.03 | 67899.00 | 66541.10 | 66921.09 | 0.06% | 2.00% | 8,975 BTC |
| 4 Hours | |||||||
| Before | 66681.57 | 67275.20 | 66456.27 | 66881.02 | 0.30% | 1.22% | 7,812 BTC |
| During | 66881.03 | 67980.00 | 66541.10 | 67834.64 | 1.41% | 2.12% | 15,459 BTC |
| 6 Hours | |||||||
| Before | 66135.27 | 67275.20 | 66014.31 | 66881.02 | 1.12% | 1.87% | 12,559 BTC |
| During | 66881.03 | 67980.00 | 66541.10 | 67333.53 | 0.67% | 2.12% | 19,526 BTC |
| 8 Hours | |||||||
| Before | 66119.99 | 67014.00 | 65657.59 | 66681.57 | 0.84% | 2.02% | 14,986 BTC |
| During | 66681.57 | 67980.00 | 66456.27 | 67834.64 | 1.70% | 2.24% | 23,272 BTC |
| 12 Hours | |||||||
| Before | 66119.99 | 67275.20 | 65657.59 | 66881.02 | 1.14% | 2.40% | 22,798 BTC |
| During | 66881.03 | 67980.00 | 66541.10 | 66980.00 | 0.15% | 2.12% | 29,745 BTC |
