Yes! Yes it is! Let me explain… A meme is something that spreads as a sort of idea virus. Memes are a popular image, text, or any other idea that others have heard of, or believe in. A sensation — a belief system. Entire internet cultures are built on a bedrock of memes. See Link, Statera, etc.
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Now, the question becomes: How do memes have anything to do with market analysis, or technical analysis as some like to call it. Let’s elaborate.
The true struggle is for the superiority of ideas.– Moira
Technical Analysis has been around since the 18th century. Technical analysis is simply a long standing belief system. A self-fulfilling prophecy and nothing more. Do understand, if enough people believe in something, that is a truly powerful concept (See religion). If we draw “trend lines”, and hundreds of thousands of people “see” the same thing, well… you can guess when those people might be buying or selling.
Humans are fascinating creatures, surely something to ponder.