Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 6th August, 2024 has come in at an increase to -$73.9B for June 2024. Compared to the previous release for May 2024 at -$74.5B, 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 8,473 BTC with prices swinging between 54,600.01 and 55,508.00, representing a swing of 1.64%. Subsequently, the trading volume increased considerably by 72% to 14,573 BTC. Price action ranged from a low of 54,371.94 to a high of 56,769.00, a significant difference of 4.22%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 327 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 55,180.00 to a high of 55,461.02, a 0.51% change. Immediately following, trading volume increased considerably by 92% to 629 BTC. At this time, Bitcoin hit a low of 54,921.50 with a high of 55,468.00, a significant change of 0.99%.
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
55,625.55Close
55,948.0124h Change
322.46 (0.58%)24h High
57,040.9924h Low
54,371.9424h Volume
54,679 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
6th August, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 55394.01 | 55461.02 | 55394.00 | 55461.01 | 0.12% | 0.12% | 21 BTC |
| During | 55461.02 | 55468.00 | 55329.13 | 55349.99 | -0.20% | 0.25% | 59 BTC |
| 5 Minutes | |||||||
| Before | 55351.99 | 55461.02 | 55288.01 | 55461.01 | 0.20% | 0.31% | 118 BTC |
| During | 55461.02 | 55468.00 | 55130.00 | 55150.00 | -0.56% | 0.61% | 156 BTC |
| 10 Minutes | |||||||
| Before | 55370.00 | 55461.02 | 55288.01 | 55461.01 | 0.16% | 0.31% | 211 BTC |
| During | 55461.02 | 55468.00 | 54924.44 | 55012.00 | -0.82% | 0.98% | 439 BTC |
| 15 Minutes | |||||||
| Before | 55300.00 | 55461.02 | 55180.00 | 55461.01 | 0.29% | 0.51% | 327 BTC |
| During | 55461.02 | 55468.00 | 54921.50 | 54921.50 | -0.98% | 0.99% | 629 BTC |
| 30 Minutes | |||||||
| Before | 55210.00 | 55461.02 | 55090.00 | 55461.01 | 0.45% | 0.67% | 737 BTC |
| During | 55461.02 | 55468.00 | 54677.49 | 54772.01 | -1.26% | 1.43% | 1,403 BTC |
| 1 Hour | |||||||
| Before | 55054.03 | 55461.02 | 55048.00 | 55461.01 | 0.73% | 0.74% | 1,610 BTC |
| During | 55461.02 | 55468.00 | 54371.94 | 55152.01 | -0.56% | 1.98% | 2,630 BTC |
| 2 Hours | |||||||
| Before | 55211.99 | 55461.02 | 54868.36 | 55461.01 | 0.45% | 1.07% | 3,066 BTC |
| During | 55461.02 | 56588.00 | 54371.94 | 56187.19 | 1.29% | 3.92% | 8,927 BTC |
| 4 Hours | |||||||
| Before | 55422.01 | 55508.00 | 54600.01 | 55461.01 | 0.07% | 1.64% | 8,473 BTC |
| During | 55461.02 | 56769.00 | 54371.94 | 56358.00 | 1.59% | 4.22% | 14,573 BTC |
| 6 Hours | |||||||
| Before | 55832.92 | 56169.48 | 54600.01 | 55461.01 | -0.67% | 2.79% | 13,342 BTC |
| During | 55461.02 | 57040.99 | 54371.94 | 56883.94 | 2.50% | 4.68% | 19,635 BTC |
| 8 Hours | |||||||
| Before | 55625.55 | 56276.00 | 55255.00 | 55422.01 | -0.37% | 1.81% | 17,636 BTC |
| During | 55422.01 | 56769.00 | 54371.94 | 56358.00 | 1.66% | 4.22% | 23,046 BTC |
| 12 Hours | |||||||
| Before | 55625.55 | 56276.00 | 54600.01 | 55461.01 | -0.30% | 2.98% | 26,109 BTC |
| During | 55461.02 | 57040.99 | 54371.94 | 55948.01 | 0.87% | 4.68% | 28,570 BTC |
