I just had a fascinating realisation watching latest video from Coin Bureau channel
The chart pattern are not actually reflection of what price or value of an asset is, but instead it's a "pure reflection of very much human behaviour"!
I haven't been following charts and technical analysis for so long that much closely for so long. Only started giving it proper attention after watching Benjamin Cowen's and Bob Loukas' charts back in 2021. This makes me understand that over time the charts and analysis they talked about really are prediction of what human behaviour might possibly behave going forward in the range of weeks to months. And much to my surprise the chart patterns been prediction this behaviour well before the actual events happened which really did play out the expected chart pattern outcome in coming weeks to months.
Another thing I noticed is that too much short span time prediction and too much long time prediction are much unreliable and there is indeed a sweet spot of pretty much close to accurate predictions, and that is weekly basis. I tried the 5 minutes to hourly chart patterns, and has historically looked forward quarterly to yearly chart patterns and the best of the predictions I could foresee myself with the help and guidance of charting from experts was only weekly basis.
In short, the charts do predict the probability of human behaviour reactions in terms of weeks much better, before the actual events happens which sort of gives the illusion that the humans reacted to the X event which resulted in the price action on some asset class.
This is literally watching simulation playing following the technical charts. That is why both Benjamin Cowen and Bob Loukas says that the narrative follows the price, not the price follows the narrative. If we can understand this phenomena I think it somewhat gives calm and patience to mind. Another fascinating thing is that "Fibonacci sequence" absolutely rule the finance world. Time and again I have seen the Fibonacci Retracements reflecting on technical charts absolutely perfectly. The wall street does try to paint the chart to fool regular (retail) traders, but some things are just too much close to the physics and maths these false chart painting only works for so long. This has been witnessed by Bitcoin chart analysts time and again.
Just wanted to share some fascinating thoughts.