Oh yes, totally market analysis is more like 'market psychology'. They think they're all predicting.. but they're really just all making their own prophecies true. It's true for those other methods you mentioned too I think.
Why else would there ever be an otherwise unexplainable huge spike in otherwise 'dead' coins, if not only for the fact that this is where the triangle edges that people drew will touch?
Additionally, if you can manage to create a spike (or dip) big enough at exactly the right time, you can 'force' all the EW analyst's predictions to start predicting whatever you want them to predict.
That's the thing with crypto manipulation that most people don't get. We're all trading based on charts.. but what if you and I could draw whatever chart we wanted the other people to see? Because that's what's going on right now.. and has been for a long time now. I've witnessed it myself in a super small crypto once almost first hand as I saw people doing exactly this. If it happens there, it must happen in the bigger coins too as the prize pot is much higher. And as 0.16% or so of all BTC accounts own like 80% of all BTC... well, the early whales are: 1) smart IT and math people 2) superfriggin' rich, 3) accustomed to efficiency maximalization through bots because they are supernerds
Sometimes I fear that the entire crypto market is just 'us' being played by a few really smart nerds who have figured out a way to game us all.
I got that feeling also sometimes, specially when the market is correcting but look, what you say could be possible if there were not entering fresh FIAT in the market.
Actually we need more "nerds" and smart IT guys to differentiate good projects from bad projects.
There are many coins being pumped by those demi-gods (i.e. mcafee ) that suddenly died after 1 or 2 months of erratic life.
The ability to combine TA with the understanding of the involved technology of every project will be definitive for the majority of those coins.
Personally, I have the opinion that those superfriggin' rich people are just trying to identify the next king of the coins as well as we are, while maintaining alive BITCOIN till the next king will be fully ready.
Circulating Supply
4,968,467 SBD <<<< ONLY compare the supply to any other coin:
2.986.019 << zcash supply ... price?
Rank 276 <<< SBD price is just cheap very cheap...
My be I'm on of that nerds. Sometimes when my predictions are astonishing accurate (compare #3 and #5), I ask myself: Em I just lucky or experience of pattern recognition, mathematics, and combining facts from charts is really powerful.