📉 GameStop Major Volatility, Grows 551% Ahead of CPI = Bearish➖ GameStop (GME) hit a low 15-April 2024 and has been green since.
➖ Bitcoin (BTCUSDT) can be seen turning green today.
➖ Today is the release of the CPI numbers.
➖ GameStop (GME) grew by 550%+ in a little under four weeks, which is amazing growth. We can see a huge gap that is likely to fill next and medium-size, yet above the weekly average for the past 3 years, trading volume.
The CPI dynamic vs major markets is quite easy to predict, how these numbers affect the market?
➖ Some people swear that these numbers are the main force driving everything in our lives including the financial markets. Depending on what these numbers read, our life materializes... Not me, many people think this way.
➖ Others think that the CPI has no effect on Bitcoin and some of the financial markets as a whole. These people see the CPI more as a symptom rather than the cause... Not me, many market participants think this way.
👉 When the market is set to move higher before a major report release of this kind, there tends to be a drop before the release of the report. The release of the report would then match market sentiment and expectations and we see higher prices. Higher prices is normally preceded by a drop.
👉 When the market is set to move lower before a major report release of this kind, there tends to be a rise, a very strong and unpredictable rise in most cases, in price before the release of the report. Once the report is released, market sentiment changes and the market turns the other way.
It is possible we are seeing this major bullish action on the GME stock because the market is set for a major correction a few hours or days after the release of the CPI inflation numbers.
Namaste.
