Problem is that Bitcoin whales or rich people go to some cheap Forex meeting when they hear about double top or some patterns and than they make it happen in reality because they belive in it, they make it happen on bitcoin or here on Vericoin.
This is exactly the reason why some totally insane patterns like "fibonacci levels" seem to be working sometimes.
Smart people know that they are total bullshit but so many people believe in them that it becomes like a self-fulfilling prophecy when they (maybe) unconsciously follow them.