Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 5th December, 2019 has come in at an increase to -$41.3B for October 2019. Compared to the previous release for September 2019 at -$44.4B, 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 12,406 BTC with prices swinging between 7,305.00 and 7,485.00, representing a swing of 2.40%. Subsequently, the trading volume decreased by 10% to 11,125 BTC. Price action ranged from a low of 7,265.00 to a high of 7,440.45, a difference of 2.36%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 915 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 7,411.72 to a high of 7,458.25, a 0.62% change. Immediately following, trading volume increased by 19% to 1,089 BTC. At this time, Bitcoin hit a low of 7,389.11 with a high of 7,440.45, a change of 0.69%.
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
7,225.13Close
7,369.8024h Change
144.67 (1.96%)24h High
7,485.0024h Low
7,150.0024h Volume
59,181 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
5th December, 2019, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 7426.00 | 7437.48 | 7424.99 | 7435.00 | 0.12% | 0.17% | 86 BTC |
| During | 7435.02 | 7440.45 | 7425.27 | 7427.75 | -0.10% | 0.20% | 63 BTC |
| 5 Minutes | |||||||
| Before | 7425.90 | 7437.48 | 7419.63 | 7435.00 | 0.12% | 0.24% | 237 BTC |
| During | 7435.02 | 7440.45 | 7413.30 | 7414.27 | -0.28% | 0.36% | 302 BTC |
| 10 Minutes | |||||||
| Before | 7424.92 | 7437.48 | 7411.72 | 7435.00 | 0.14% | 0.35% | 642 BTC |
| During | 7435.02 | 7440.45 | 7389.11 | 7409.58 | -0.34% | 0.69% | 902 BTC |
| 15 Minutes | |||||||
| Before | 7455.00 | 7458.25 | 7411.72 | 7435.00 | -0.27% | 0.62% | 915 BTC |
| During | 7435.02 | 7440.45 | 7389.11 | 7407.69 | -0.37% | 0.69% | 1,089 BTC |
| 30 Minutes | |||||||
| Before | 7436.97 | 7485.00 | 7411.72 | 7435.00 | -0.03% | 0.98% | 2,132 BTC |
| During | 7435.02 | 7440.45 | 7361.14 | 7378.73 | -0.76% | 1.07% | 2,159 BTC |
| 1 Hour | |||||||
| Before | 7425.77 | 7485.00 | 7405.15 | 7435.00 | 0.12% | 1.07% | 3,610 BTC |
| During | 7435.02 | 7440.45 | 7361.14 | 7384.52 | -0.68% | 1.07% | 3,473 BTC |
| 2 Hours | |||||||
| Before | 7360.47 | 7485.00 | 7357.00 | 7435.00 | 1.00% | 1.71% | 7,238 BTC |
| During | 7435.02 | 7440.45 | 7315.19 | 7333.51 | -1.38% | 1.68% | 6,364 BTC |
| 4 Hours | |||||||
| Before | 7327.37 | 7485.00 | 7305.00 | 7435.00 | 1.45% | 2.40% | 12,406 BTC |
| During | 7435.02 | 7440.45 | 7265.00 | 7308.29 | -1.73% | 2.36% | 11,125 BTC |
| 6 Hours | |||||||
| Before | 7282.68 | 7485.00 | 7275.10 | 7435.00 | 2.05% | 2.80% | 17,685 BTC |
| During | 7435.02 | 7440.45 | 7265.00 | 7371.67 | -0.86% | 2.36% | 14,372 BTC |
| 8 Hours | |||||||
| Before | 7225.13 | 7433.00 | 7150.00 | 7327.37 | 1.40% | 3.81% | 22,416 BTC |
| During | 7327.37 | 7485.00 | 7265.00 | 7308.29 | -0.26% | 2.94% | 23,531 BTC |
| 12 Hours | |||||||
| Before | 7225.13 | 7485.00 | 7150.00 | 7435.00 | 2.82% | 4.48% | 34,822 BTC |
| During | 7435.02 | 7447.40 | 7265.00 | 7369.80 | -0.88% | 2.45% | 24,359 BTC |
