Data Analysis
The data released by Bureau of Census, Bureau of Economic Analysis for International Trade Balance in Goods and Services on 4th April, 2024 has come in at an increase to -$66.4B for February 2024. Compared to the previous release for January 2024 at -$67.1B, 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 3,979 BTC with prices swinging between 66,108.85 and 66,630.00, representing a swing of 0.78%. Subsequently, the trading volume increased significantly by 173% to 10,845 BTC. Price action ranged from a low of 66,493.51 to a high of 68,188.00, a significant difference of 2.49%
15-Minutes Chart Analysis
Analysing on a lower time frame to get a more accurate picture, 600 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 66,460.56 to a high of 66,630.00, a 0.25% change. Immediately following, trading volume decreased by 35% to 391 BTC. At this time, Bitcoin hit a low of 66,493.51 with a high of 66,725.42, 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
66,181.26Close
68,220.0124h Change
2038.75 (2.99%)24h High
69,309.9124h Low
65,064.5224h Volume
41,590 BTCUS International Trade Balance in Goods and Services
Bureau of Census, Bureau of Economic Analysis
4th April, 2024, 8:30AM Timezone: America/New York
Chart Data from Binance
Observations
| Time | Open | High | Low | Close | Change | Amplitude | Volume |
|---|---|---|---|---|---|---|---|
| 1 Minute | |||||||
| Before | 66571.99 | 66612.00 | 66571.99 | 66572.01 | 0.00% | 0.06% | 38 BTC |
| During | 66572.01 | 66614.89 | 66541.55 | 66542.81 | -0.04% | 0.11% | 26 BTC |
| 5 Minutes | |||||||
| Before | 66570.03 | 66612.00 | 66528.03 | 66572.01 | 0.00% | 0.13% | 200 BTC |
| During | 66572.01 | 66614.89 | 66493.51 | 66539.54 | -0.05% | 0.18% | 146 BTC |
| 10 Minutes | |||||||
| Before | 66485.77 | 66612.00 | 66460.56 | 66572.01 | 0.13% | 0.23% | 306 BTC |
| During | 66572.01 | 66668.61 | 66493.51 | 66666.67 | 0.14% | 0.26% | 267 BTC |
| 15 Minutes | |||||||
| Before | 66573.57 | 66630.00 | 66460.56 | 66572.01 | 0.00% | 0.25% | 600 BTC |
| During | 66572.01 | 66725.42 | 66493.51 | 66721.74 | 0.22% | 0.35% | 391 BTC |
| 30 Minutes | |||||||
| Before | 66353.68 | 66630.00 | 66330.56 | 66572.01 | 0.33% | 0.45% | 1,238 BTC |
| During | 66572.01 | 66816.66 | 66493.51 | 66709.00 | 0.21% | 0.48% | 873 BTC |
| 1 Hour | |||||||
| Before | 66232.05 | 66630.00 | 66232.05 | 66572.01 | 0.51% | 0.60% | 1,818 BTC |
| During | 66572.01 | 67480.00 | 66493.51 | 67288.00 | 1.06% | 1.46% | 2,832 BTC |
| 2 Hours | |||||||
| Before | 66364.15 | 66630.00 | 66108.85 | 66572.01 | 0.31% | 0.78% | 2,454 BTC |
| During | 66572.01 | 67757.23 | 66493.51 | 67514.00 | 1.40% | 1.87% | 5,922 BTC |
| 4 Hours | |||||||
| Before | 66316.77 | 66630.00 | 66108.85 | 66572.01 | 0.38% | 0.78% | 3,979 BTC |
| During | 66572.01 | 68188.00 | 66493.51 | 67936.02 | 2.01% | 2.49% | 10,845 BTC |
| 6 Hours | |||||||
| Before | 65659.57 | 66630.00 | 65642.00 | 66572.01 | 1.37% | 1.48% | 6,756 BTC |
| During | 66572.01 | 69309.91 | 66493.51 | 68824.00 | 3.27% | 4.06% | 16,457 BTC |
| 8 Hours | |||||||
| Before | 66181.26 | 66435.02 | 65064.52 | 66316.77 | 0.20% | 2.06% | 8,676 BTC |
| During | 66316.77 | 68188.00 | 66108.85 | 67936.02 | 2.38% | 3.05% | 14,823 BTC |
| 12 Hours | |||||||
| Before | 66181.26 | 66630.00 | 65064.52 | 66572.01 | 0.59% | 2.35% | 12,655 BTC |
| During | 66572.01 | 69309.91 | 66493.51 | 68220.01 | 2.42% | 4.06% | 28,935 BTC |
