lmao, quantum "mathemagician." I must admit, drawing lines at highs/lows and finding the point of intersection sure does look impressive.

To be honest, I think the technical analysis achieve one thing: whatever you draw, that is what people will believe to be true and therefore invest/sell. If you can draw some lines to show an uptrend that reaches a certain value, then people will buy and make it a self-fulfilling prophecy.

The same can be said about authority figures in the cryptospace. If you have John McAfee say "bitcoin is going to $45,000," people think that he came up with this figure using some kind of analysis. The truth is, people don't know value and will pay however much they think it is worth. If someone like John McAfee says it's worth $45k, then that is what people anticipate the price to go to. It is a self-fulfilling prophecy.