Well phrased and it's how the stock market works, not only by technical analysts but everyone else playing: make a story in your head, place your bets, majority rules.
Some even believe that's how reality works in general. Sometimes belief or need could be a factor[0].
The former is a belief. It always reflects the imagined realities of those investing--we assume that business reality catches up with them, and it mostly does but not always within a predictable time frame.
Always in play for goods and services, but this is a crypto currency – it's supply is mathematically limited, and it's value is fully market-dependent – determined only by players on the market.
Well phrased and it's how the stock market works, not only by technical analysts but everyone else playing: make a story in your head, place your bets, majority rules.
Some even believe that's how reality works in general. Sometimes belief or need could be a factor[0].
[0] https://www.guinnessworldrecords.com/news/2012/9/norwegian-f...