any commodity, currency, crypto token, ANY tradable thing in a market obeys technical rules.

let's break this claim in pieces and definitions:

market

a market means people. human beings. with their sentiments, fears, greed and emotions.

technical rules

The chart patterns are not reasons for people's acts. but they are affects and events of people's emotions, decisions and sentiments; let's say, market!

FOMO for example, or greed to earn more, these are the basic and fundamental facts of psychology in investors, which create a bull or bear market.

This is the Bump and Bust cycle. this is proven in many different charts for different things (gold, stocks, currencies etc) and Cryptocurrencies are no exception!

now look at below, BTCUSD chart for last one month:

do you see the cylce? make your window wider, look at the 3 month, one year and finally all time charts.

You probably see new things.