TL;DR

A Reddit post promotes technical analysis indicators as guaranteed ways to get rich. It’s the same old snake oil in a new bottle—get-rich-quick schemes disguised as complex strategies.

Story

John dreamed of early retirement. Then he saw a chart. Lines crisscrossed, promising untold riches. It felt like a map to a treasure island—one whispered about on Reddit forums, fueled by cryptic acronyms like ‘EMA’ and ‘RSI’.

‣ EMA: Exponential Moving Average—a fancy way to track price trends. Like guessing tomorrow’s weather based on the past week. ‣ RSI: Relative Strength Index—supposedly shows if something’s overbought or oversold. Like a gas gauge, but for stocks… often unreliable.

John wasn’t alone. Thousands, blinded by FOMO (‣ FOMO: Fear Of Missing Out—the anxiety that everyone else is getting rich but you.) piled into this new ‘sure thing’. The chart, they believed, predicted a rocket to the moon. It was 2008 all over again, but with memes and crypto.

The mechanics were simple: hype a coin, pump the price, dump it on latecomers. The ‘Fibonacci retracement’ (‣ Fibonacci retracement: Based on a number sequence found in nature, this is used to ‘predict’ price movements. Like predicting lottery numbers with astrology.) was just a smokescreen—a complex-sounding excuse for why the price had to go up.

Then, the inevitable crash. John’s retirement fund vanished, swallowed by the same chart that promised him freedom. Like a house of cards built on speculation, it all came tumbling down. Sound familiar? Remember the dot-com bubble? Tulip mania? History repeats itself.

This wasn’t investing; it was gambling disguised as financial wizardry. The ’experts’ on Reddit? Mostly shills or the self-deluded.

Advice

Don’t trust ‘guaranteed returns’. If it sounds too good to be true, it is. Do your research, and remember, a chart doesn’t predict the future.

Source

https://www.reddit.com/r/CryptoCurrency/comments/1jjoy5d/we_all_know_its_true/